Futu Holdings Limited (NASDAQ:FUTU) Holdings Raised by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in Futu Holdings Limited (NASDAQ:FUTU) by 743.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,227 shares of the company’s stock after buying an additional 16,066 shares during the period. Federated Hermes Inc.’s holdings in Futu were worth $1,196,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale raised its stake in shares of Futu by 3.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock worth $394,000 after buying an additional 230 shares in the last quarter. Signaturefd LLC raised its position in Futu by 8.4% in the second quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after acquiring an additional 247 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Futu by 6.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock valued at $238,000 after acquiring an additional 269 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Futu by 8.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock valued at $206,000 after purchasing an additional 300 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of Futu by 3.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company’s stock worth $602,000 after purchasing an additional 343 shares during the last quarter.

Futu Stock Down 3.4 %

FUTU opened at $65.53 on Friday. The firm has a market capitalization of $9.03 billion, a P/E ratio of 17.34, a PEG ratio of 0.92 and a beta of 0.72. The stock has a fifty day moving average of $60.93 and a 200-day moving average of $63.97. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $81.86.

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

Wall Street Analyst Weigh In

Several research firms recently commented on FUTU. JPMorgan Chase & Co. raised shares of 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 note on Tuesday, May 28th. Bank of America raised their price objective on Futu from $77.60 to $80.20 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and an average target price of $71.57.

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.