Seven Eight Capital LP acquired a new position in Futu Holdings Limited (NASDAQ:FUTU – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,821 shares of the company’s stock, valued at approximately $1,956,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of FUTU. E Fund Management Co. Ltd. bought a new position in Futu in the second quarter worth approximately $31,490,000. National Bank of Canada FI grew its stake in Futu by 3,253,333.3% in the second quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock worth $18,790,000 after purchasing an additional 292,800 shares in the last quarter. Renaissance Technologies LLC grew its stake in Futu by 1,159.9% in the second quarter. Renaissance Technologies LLC now owns 292,300 shares of the company’s stock worth $19,176,000 after purchasing an additional 269,100 shares in the last quarter. Acadian Asset Management LLC grew its stake in Futu by 5,492.5% in the second quarter. Acadian Asset Management LLC now owns 265,869 shares of the company’s stock worth $17,419,000 after purchasing an additional 261,115 shares in the last quarter. Finally, Norges Bank bought a new position in Futu in the fourth quarter worth approximately $11,472,000.
Futu Price Performance
Futu stock opened at $59.51 on Thursday. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 0.92 and a beta of 0.72. Futu Holdings Limited has a 1-year low of $43.61 and a 1-year high of $81.86. The business has a fifty day moving average price of $61.01 and a 200-day moving average price of $63.82.
Wall Street Analyst Weigh In
Several analysts have issued reports on FUTU shares. JPMorgan Chase & Co. raised Futu from a “neutral” rating to an “overweight” rating and increased their target price for the company from $62.00 to $92.00 in a research report on Tuesday, May 28th. Bank of America increased their target price on Futu from $77.60 to $80.20 and gave the company a “buy” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $71.57.
Read Our Latest Stock Report on FUTU
Futu Company 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.
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