13,800 Shares in Futu Holdings Limited (NASDAQ:FUTU) Purchased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,800 shares of the company’s stock, valued at approximately $747,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FUTU. Headlands Technologies LLC bought a new position in Futu in the fourth quarter worth $44,000. Advisors Preferred LLC bought a new stake in Futu during the fourth quarter worth about $53,000. Newbridge Financial Services Group Inc. purchased a new stake in Futu in the first quarter worth about $65,000. Barometer Capital Management Inc. purchased a new position in shares of Futu during the fourth quarter valued at approximately $120,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of Futu during the fourth quarter valued at approximately $148,000.

Futu Price Performance

Shares of NASDAQ:FUTU traded down $0.81 during midday trading on Monday, hitting $67.76. The company had a trading volume of 269,740 shares, compared to its average volume of 1,521,276. The company has a fifty day moving average of $71.67 and a two-hundred day moving average of $60.17. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $81.86. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 0.93 and a beta of 0.74.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Tuesday, May 28th. The company reported $0.95 EPS for the quarter. Futu had a return on equity of 17.16% and a net margin of 40.86%. The business had revenue of $331.27 million for the quarter. During the same quarter in the previous year, the firm earned $1.08 earnings per share. Research analysts expect that Futu Holdings Limited will post 4.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FUTU. CLSA upgraded Futu from an “underperform” rating to an “outperform” rating and lifted their price objective for the company from $50.00 to $65.00 in a research note on Monday, March 18th. Bank of America increased their target price on Futu from $81.00 to $85.80 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, JPMorgan Chase & Co. raised Futu from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $62.00 to $92.00 in a research report on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.37.

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.