Stock Traders Purchase High Volume of Futu Call Options (NASDAQ:FUTU)

Futu Holdings Limited (NASDAQ:FUTU) saw some unusual options trading activity on Friday. Investors purchased 21,107 call options on the company. This is an increase of approximately 69% compared to the typical volume of 12,521 call options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FUTU. APG Asset Management N.V. bought a new position in Futu in the second quarter worth about $496,000. Susquehanna Fundamental Investments LLC purchased a new stake in Futu during the 1st quarter valued at $747,000. Seven Eight Capital LP bought a new position in Futu in the second quarter valued at about $1,956,000. HCEP Management Ltd lifted its stake in shares of Futu by 37.7% in the 4th quarter. HCEP Management Ltd now owns 400,000 shares of the company’s stock worth $21,852,000 after purchasing an additional 109,499 shares during the period. Finally, Prudential PLC raised its position in Futu by 23.2% in the fourth quarter. Prudential PLC now owns 597,476 shares of the company’s stock worth $32,640,000 after acquiring an additional 112,497 shares during the period.

Futu Stock Up 4.2 %

Shares of NASDAQ FUTU opened at $127.98 on Friday. The firm’s fifty day moving average is $66.01 and its 200 day moving average is $65.99. Futu has a 52 week low of $43.61 and a 52 week high of $128.30. The company has a market cap of $17.63 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 1.04 and a beta of 0.74.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. The firm had revenue of $400.73 million for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. Equities research analysts anticipate that Futu will post 4.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Bank of America upped their price target on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.97.

About Futu

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.