US Bancorp DE boosted its holdings in Futu Holdings Limited (NASDAQ:FUTU – Get Rating) by 28.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,645 shares of the company’s stock after purchasing an additional 1,704 shares during the period. US Bancorp DE’s holdings in Futu were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. grew its holdings in shares of Futu by 596.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 683 shares of the company’s stock valued at $36,000 after acquiring an additional 585 shares in the last quarter. James Investment Research Inc. bought a new position in Futu in the second quarter valued at approximately $58,000. Edmond DE Rothschild Holding S.A. increased its position in shares of Futu by 25.2% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,132 shares of the company’s stock worth $111,000 after purchasing an additional 429 shares during the last quarter. Capital Impact Advisors LLC bought a new stake in shares of Futu during the 2nd quarter worth approximately $128,000. Finally, Seaport Global Advisors LLC acquired a new stake in shares of Futu in the 2nd quarter valued at approximately $148,000. 19.92% of the stock is currently owned by institutional investors and hedge funds.
Futu Stock Down 0.7 %
Shares of FUTU stock opened at $53.14 on Wednesday. Futu Holdings Limited has a 12-month low of $21.23 and a 12-month high of $72.20. The firm has a 50 day moving average price of $56.11 and a two-hundred day moving average price of $46.37. The company has a market capitalization of $7.99 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 8.43 and a beta of 0.73.
Wall Street Analyst Weigh In
FUTU has been the topic of a number of recent analyst reports. Credit Suisse Group downgraded shares of Futu from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $61.00 to $64.00 in a report on Friday, December 16th. CLSA lowered shares of Futu from a “buy” rating to a “reduce” rating and set a $43.00 price objective on the stock. in a research note on Tuesday, January 3rd. DBS Vickers initiated coverage on shares of Futu in a research note on Monday, October 24th. They issued a “buy” rating and a $55.00 target price for the company. Bank of America downgraded Futu from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $59.60 to $27.00 in a research report on Friday, December 30th. Finally, TheStreet raised Futu from a “c+” rating to a “b-” rating in a research report on Thursday, December 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.52.
Futu Holdings Ltd. is an advanced technology company, which engages in online brokerage and wealth management services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The firm’s fee-generating services include trade execution, as well as margin financing and securities lending, which allow its clients to trade securities, such as stocks, ETFs, warrants, options and futures, across different markets.
- Get a free copy of the StockNews.com research report on Futu (FUTU)
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