Prospera Financial Services Inc Sells 1,048 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Prospera Financial Services Inc lessened its stake in Futu Holdings Limited (NASDAQ:FUTU – Get Rating) by 13.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,867 shares of the company’s stock after selling 1,048 shares during the period. Prospera Financial Services Inc’s holdings in Futu were worth $224,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Yong Rong HK Asset Management Ltd raised its position in shares of Futu by 49.3% during the 1st quarter. Yong Rong HK Asset Management Ltd now owns 525,000 shares of the company’s stock valued at $17,094,000 after acquiring an additional 173,401 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Futu by 2.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 126,068 shares of the company’s stock valued at $4,105,000 after acquiring an additional 3,605 shares during the last quarter. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd raised its position in shares of Futu by 99.0% during the 1st quarter. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd now owns 302,477 shares of the company’s stock valued at $9,849,000 after acquiring an additional 150,447 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Futu by 23.1% during the 1st quarter. IFM Investors Pty Ltd now owns 8,988 shares of the company’s stock valued at $293,000 after acquiring an additional 1,688 shares during the last quarter. Finally, Tobam raised its position in shares of Futu by 60.0% during the 4th quarter. Tobam now owns 80,800 shares of the company’s stock valued at $3,499,000 after acquiring an additional 30,300 shares during the last quarter. Institutional investors own 23.33% of the company’s stock.

Wall Street Analyst Weigh In

FUTU has been the subject of several recent research reports. Bank of America upgraded shares of Futu from an “underperform” rating to a “buy” rating in a research report on Friday, June 10th. CLSA cut shares of Futu from an “underperform” rating to a “sell” rating and set a $27.00 target price for the company. in a research report on Monday, June 6th. Finally, JPMorgan Chase & Co. lowered shares of Futu from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.63.

Futu Stock Up 2.9 %

Shares of FUTU stock opened at $42.10 on Thursday. Futu Holdings Limited has a 12-month low of $21.23 and a 12-month high of $119.38. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 0.76 and a beta of 0.24. The firm has a fifty day moving average of $45.59 and a 200-day moving average of $37.86.

Futu (NASDAQ:FUTU – Get Rating) last announced its earnings results on Monday, June 6th. The company reported $0.49 earnings per share for the quarter. The firm had revenue of $209.51 million during the quarter. Futu had a net margin of 33.88% and a return on equity of 10.59%. During the same period in the previous year, the company posted $1.03 earnings per share. Research analysts expect that Futu Holdings Limited will post 2.27 earnings per share 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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