Rhumbline Advisers Has $1.43 Million Position in Futu Holdings Limited (NASDAQ:FUTU)

Rhumbline Advisers lessened its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 45.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,813 shares of the company’s stock after selling 18,186 shares during the period. Rhumbline Advisers’ holdings in Futu were worth $1,431,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in Futu in the 1st quarter valued at $747,000. HCEP Management Ltd grew its position in Futu by 37.7% in the 4th quarter. HCEP Management Ltd now owns 400,000 shares of the company’s stock worth $21,852,000 after purchasing an additional 109,499 shares during the last quarter. Prudential PLC grew its position in Futu by 23.2% in the 4th quarter. Prudential PLC now owns 597,476 shares of the company’s stock worth $32,640,000 after purchasing an additional 112,497 shares during the last quarter. Bailard Inc. acquired a new stake in Futu in the 2nd quarter worth $984,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in Futu in the 1st quarter worth $5,415,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FUTU. Bank of America raised their price target on shares of Futu from $77.60 to $80.20 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded shares of Futu from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $62.00 to $92.00 in a research report on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.57.

Futu Stock Performance

Shares of Futu stock opened at $65.53 on Friday. The firm has a market cap of $9.03 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.72. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $81.86. The firm’s 50-day simple moving average is $60.93 and its 200-day simple moving average is $63.97.

Futu (NASDAQ:FUTU) last released its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The firm had revenue of $400.73 million for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. On average, equities analysts forecast that Futu Holdings Limited will post 4.51 earnings per share for the current fiscal 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.