Canada Pension Plan Investment Board Grows Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Canada Pension Plan Investment Board raised its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 221.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,000 shares of the company’s stock after purchasing an additional 62,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.06% of Futu worth $5,904,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Futu in the fourth quarter valued at about $11,472,000. Franklin Resources Inc. bought a new stake in Futu during the 4th quarter valued at approximately $2,474,000. Hsbc Holdings PLC lifted its holdings in Futu by 889.5% in the 4th quarter. Hsbc Holdings PLC now owns 175,458 shares of the company’s stock worth $9,586,000 after purchasing an additional 197,683 shares in the last quarter. BOCHK Asset Management Ltd bought a new stake in shares of Futu during the fourth quarter valued at approximately $328,000. Finally, CenterBook Partners LP purchased a new position in shares of Futu in the fourth quarter worth $591,000.

Analyst Ratings Changes

Separately, Bank of America raised their target price on shares of Futu from $77.60 to $80.20 and gave the company a “buy” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.57.

Futu Stock Up 0.9 %

FUTU stock opened at $75.52 on Thursday. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $81.86. The firm has a market capitalization of $10.41 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 1.04 and a beta of 0.72. The company has a fifty day simple moving average of $61.07 and a two-hundred day simple moving average of $64.23.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The firm had revenue of $400.73 million during the quarter. As a group, analysts anticipate that Futu Holdings Limited will post 4.51 EPS for the current year.

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.