Point72 Hong Kong Ltd Buys Shares of 93,485 Futu Holdings Limited (NASDAQ:FUTU)

Point72 Hong Kong Ltd purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 93,485 shares of the company’s stock, valued at approximately $6,133,000.

A number of other large investors have also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its position in Futu by 3.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock valued at $394,000 after purchasing an additional 230 shares during the period. Signaturefd LLC boosted its stake in shares of Futu by 8.4% in the 2nd quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after buying an additional 247 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Futu by 6.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after buying an additional 269 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Futu by 8.6% in the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $206,000 after acquiring an additional 300 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its position in Futu by 3.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company’s stock valued at $602,000 after acquiring an additional 343 shares during the last quarter.

Futu Stock Up 11.3 %

NASDAQ FUTU opened at $74.88 on Wednesday. The stock’s 50-day moving average price is $60.92 and its 200-day moving average price is $64.10. The company has a market capitalization of $10.32 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.04 and a beta of 0.72. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $81.86.

Futu (NASDAQ:FUTU) last released its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The company 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%. Research analysts anticipate that Futu Holdings Limited will post 4.51 EPS for the current year.

Analyst Ratings Changes

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