Futu Holdings Limited (NASDAQ:FUTU) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 14.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,561 shares of the company’s stock after buying an additional 15,127 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Futu were worth $11,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd lifted its position in shares of Futu by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after buying an additional 400 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Futu in the 2nd quarter valued at $50,000. GAMMA Investing LLC lifted its holdings in Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after purchasing an additional 383 shares in the last quarter. CWM LLC lifted its holdings in Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Futu during the 3rd quarter worth $92,000.

Futu Trading Up 0.5 %

Shares of NASDAQ:FUTU opened at $89.08 on Monday. The business has a 50-day moving average price of $90.00 and a 200 day moving average price of $75.15. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 0.93 and a beta of 0.75. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $130.50.

Futu (NASDAQ:FUTU) last released its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The company had revenue of $400.73 million during the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. As a group, equities research analysts predict that Futu Holdings Limited will post 4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Bank of America lifted their price target on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Futu has a consensus rating of “Moderate Buy” and a consensus target price of $72.97.

Futu Company Profile

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.