Futu Holdings Limited (NASDAQ:FUTU) Position Increased by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in Futu Holdings Limited (NASDAQ:FUTU) by 5,847.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,153 shares of the company’s stock after purchasing an additional 109,284 shares during the period. SG Americas Securities LLC owned 0.08% of Futu worth $10,632,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its holdings 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 purchasing an additional 230 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Futu by 8.4% in the 2nd quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after purchasing an additional 247 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Futu by 6.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after purchasing an additional 269 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Futu by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $206,000 after purchasing an additional 300 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in Futu by 3.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company’s stock valued at $602,000 after acquiring an additional 343 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Bank of America lifted their price target on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Futu has an average rating of “Moderate Buy” and an average target price of $72.97.

Futu Stock Up 4.2 %

Shares of Futu stock traded up $5.19 during midday trading on Friday, hitting $127.98. The company’s stock had a trading volume of 14,554,455 shares, compared to its average volume of 1,953,417. The firm has a market capitalization of $17.63 billion, a P/E ratio of 33.86, a PEG ratio of 1.04 and a beta of 0.74. The stock has a 50-day simple moving average of $66.01 and a 200-day simple moving average of $65.99. Futu Holdings Limited has a 1-year low of $43.61 and a 1-year high of $128.30.

Futu (NASDAQ:FUTU) last issued its earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The business 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%. As a group, sell-side analysts predict 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.