Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by abrdn plc

abrdn plc decreased its holdings in Futu Holdings Limited (NASDAQ:FUTUGet Rating) by 66.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,164 shares of the company’s stock after selling 12,110 shares during the quarter. abrdn plc’s holdings in Futu were worth $201,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FUTU. Coatue Management LLC acquired a new position in Futu in the 4th quarter worth about $22,161,000. Greenwoods Asset Management Hong Kong Ltd. raised its holdings in shares of Futu by 1,034.7% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 524,409 shares of the company’s stock valued at $22,707,000 after acquiring an additional 478,193 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Futu during the fourth quarter valued at approximately $15,267,000. Yong Rong HK Asset Management Ltd acquired a new position in shares of Futu during the fourth quarter valued at approximately $15,225,000. Finally, Credit Suisse AG raised its holdings in shares of Futu by 65.1% during the fourth quarter. Credit Suisse AG now owns 665,616 shares of the company’s stock valued at $28,821,000 after acquiring an additional 262,479 shares during the last quarter. Institutional investors and hedge funds own 23.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FUTU. JPMorgan Chase & Co. cut Futu from an “overweight” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Thursday, June 23rd. Bank of America raised Futu from an “underperform” rating to a “buy” rating in a report on Friday, June 10th. Finally, CLSA cut Futu from an “underperform” rating to a “sell” rating and set a $27.00 target price for the company. in a report on Monday, June 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.63.

Futu Price Performance

FUTU stock opened at $42.10 on Thursday. The business has a 50 day simple moving average of $45.59 and a 200-day simple moving average of $37.86. The firm has a market capitalization of $6.33 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 0.76 and a beta of 0.24. Futu Holdings Limited has a 1 year low of $21.23 and a 1 year high of $119.38.

Futu (NASDAQ:FUTUGet Rating) last posted its quarterly earnings results on Monday, June 6th. The company reported $0.49 earnings per share (EPS) for the quarter. The business had revenue of $209.51 million during the quarter. Futu had a return on equity of 10.59% and a net margin of 33.88%. During the same quarter last year, the company earned $1.03 earnings per share. On average, equities research analysts expect that Futu Holdings Limited will post 2.27 EPS for the current year.

Futu Profile

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Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the brand of Futu Money Plus through its Futubull and moomoo platforms, which give access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.

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Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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