7,472 Shares in Futu Holdings Limited (NASDAQ:FUTU) Acquired by Headlands Technologies LLC

Headlands Technologies LLC purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,472 shares of the company’s stock, valued at approximately $490,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. National Bank of Canada FI increased its position in shares of Futu by 3,253,333.3% in the 2nd quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock valued at $18,790,000 after acquiring an additional 292,800 shares during the period. Acadian Asset Management LLC raised its stake in shares of Futu by 5,492.5% in the second quarter. Acadian Asset Management LLC now owns 265,869 shares of the company’s stock worth $17,419,000 after purchasing an additional 261,115 shares during the last quarter. Norges Bank purchased a new position in shares of Futu in the fourth quarter worth about $11,472,000. Hsbc Holdings PLC lifted its holdings in shares of Futu by 889.5% during the fourth 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 during the period. Finally, Prudential PLC boosted its position in Futu by 23.2% in the fourth quarter. Prudential PLC now owns 597,476 shares of the company’s stock valued at $32,640,000 after buying an additional 112,497 shares during the last quarter.

Futu Stock Performance

FUTU opened at $56.96 on Friday. The company has a fifty day moving average of $61.78 and a two-hundred day moving average of $63.59. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 0.91 and a beta of 0.72. Futu Holdings Limited has a fifty-two week low of $43.61 and a fifty-two week high of $81.86.

Futu (NASDAQ:FUTU) last announced its quarterly 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 during the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. On average, equities research analysts forecast that Futu Holdings Limited will post 4.51 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on FUTU shares. JPMorgan Chase & Co. upgraded shares of Futu from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $62.00 to $92.00 in a research note on Tuesday, May 28th. Bank of America upped their price target on shares of Futu from $77.60 to $80.20 and gave the company a “buy” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.57.

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.