Venturi Wealth Management LLC Purchases Shares of 958 Futu Holdings Limited (NASDAQ:FUTU)

Venturi Wealth Management LLC acquired a new position in Futu Holdings Limited (NASDAQ:FUTU) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 958 shares of the company’s stock, valued at approximately $92,000.

Several other institutional investors also recently bought and sold shares of FUTU. APG Asset Management N.V. bought a new stake in Futu in the second quarter valued at approximately $496,000. Valliance Asset Management Ltd purchased a new position in shares of Futu in the third quarter worth $956,000. Sei Investments Co. raised its holdings in Futu by 261.3% during the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock valued at $1,663,000 after buying an additional 18,334 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Futu during the 2nd quarter valued at $1,956,000. Finally, WT Asset Management Ltd bought a new stake in Futu in the 3rd quarter worth $1,435,000.

Futu Trading Down 2.3 %

Shares of FUTU opened at $88.68 on Friday. Futu Holdings Limited has a 1-year low of $43.61 and a 1-year high of $130.50. The firm’s 50-day moving average price is $88.82 and its 200-day moving average price is $74.73. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 0.97 and a beta of 0.75.

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

Wall Street Analyst Weigh In

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

Futu 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.