Jupiter Asset Management Ltd. Trims Stake in Futu Holdings Limited (NASDAQ:FUTU)

Jupiter Asset Management Ltd. lowered its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 96.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,600 shares of the company’s stock after selling 96,400 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Futu were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. UniSuper Management Pty Ltd grew its holdings in Futu by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after purchasing an additional 400 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Futu in the second quarter worth about $50,000. Newbridge Financial Services Group Inc. purchased a new stake in Futu in the first quarter worth about $65,000. Barometer Capital Management Inc. purchased a new stake in Futu in the fourth quarter worth about $120,000. Finally, SG Americas Securities LLC purchased a new stake in Futu in the second quarter worth about $123,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FUTU. Bank of America upped their price objective on shares of Futu from $77.60 to $80.20 and gave the stock a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded shares of Futu from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $62.00 to $92.00 in a report on Tuesday, May 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.57.

Futu Stock Up 1.1 %

NASDAQ:FUTU opened at $57.58 on Friday. The company’s 50 day moving average price is $61.52 and its 200-day moving average price is $63.70. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $81.86. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.92 and a beta of 0.72.

Futu (NASDAQ:FUTU) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The firm had revenue of $400.73 million for the quarter. As a group, sell-side analysts anticipate that Futu Holdings Limited will post 4.51 earnings per share for the current year.

Futu Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.