Principal Financial Group Inc. Purchases 757 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Principal Financial Group Inc. lifted its stake in shares of Futu Holdings Limited (NASDAQ:FUTUFree Report) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,532 shares of the company’s stock after purchasing an additional 757 shares during the period. Principal Financial Group Inc.’s holdings in Futu were worth $1,071,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FUTU. Hollencrest Capital Management bought a new position in Futu in the 1st quarter worth approximately $25,000. Financial Management Professionals Inc. bought a new position in Futu in the 3rd quarter worth approximately $30,000. Wells Fargo & Company MN boosted its holdings in Futu by 102.4% in the 4th quarter. Wells Fargo & Company MN now owns 923 shares of the company’s stock worth $38,000 after buying an additional 467 shares during the period. Assetmark Inc. bought a new position in Futu in the 3rd quarter worth approximately $61,000. Finally, Royal Bank of Canada boosted its holdings in Futu by 12.4% in the 2nd quarter. Royal Bank of Canada now owns 2,405 shares of the company’s stock worth $96,000 after buying an additional 266 shares during the period. Hedge funds and other institutional investors own 20.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FUTU. Jefferies Financial Group raised their price objective on shares of Futu from $64.80 to $71.50 and gave the stock a “buy” rating in a report on Friday, November 24th. Morgan Stanley raised shares of Futu from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $40.00 to $50.00 in a report on Thursday, January 4th. JPMorgan Chase & Co. raised shares of Futu from a “neutral” rating to an “overweight” rating and set a $64.00 price target for the company in a report on Wednesday, January 17th. Finally, UBS Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a report on Friday, January 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.76.

Read Our Latest Stock Analysis on FUTU

Futu Stock Up 0.7 %

NASDAQ FUTU opened at $48.53 on Friday. Futu Holdings Limited has a 52-week low of $35.91 and a 52-week high of $67.49. The company has a fifty day moving average of $50.16 and a 200-day moving average of $54.85.

Futu (NASDAQ:FUTUGet Free Report) last posted its quarterly earnings data on Thursday, November 23rd. The company reported $1.00 earnings per share (EPS) for the quarter. Futu had a net margin of 43.99% and a return on equity of 19.60%. The company had revenue of $338.46 million during the quarter, compared to the consensus estimate of $338.72 million. On average, analysts anticipate that Futu Holdings Limited will post 4.16 earnings per share for the current year.

Futu Profile

(Free Report)

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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Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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