Yong Rong HK Asset Management Ltd boosted its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 2,525.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 393,800 shares of the company's stock after buying an additional 378,800 shares during the period. Futu accounts for 10.9% of Yong Rong HK Asset Management Ltd's investment portfolio, making the stock its largest position. Yong Rong HK Asset Management Ltd owned 0.29% of Futu worth $37,667,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in Futu by 14.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company's stock valued at $84,000 after purchasing an additional 112 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Futu by 3.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company's stock worth $394,000 after acquiring an additional 230 shares in the last quarter. Signaturefd LLC lifted its stake in Futu by 8.4% during the second 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 boosted its holdings in Futu by 6.5% in the first quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company's stock valued at $238,000 after purchasing an additional 269 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Futu by 8.6% in the first 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 during the last quarter.
Separately, Bank of America boosted their price objective on shares of Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $72.97.
Get Our Latest Stock Report on Futu
FUTU opened at $95.08 on Friday. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $130.50. The business's 50 day moving average is $82.99 and its two-hundred day moving average is $72.47. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.00 and a beta of 0.74.
Futu (NASDAQ:FUTU - Get Free Report) last announced its earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The business 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%. Equities analysts expect that Futu Holdings Limited will post 4.75 EPS for the current fiscal year.
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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