Public Sector Pension Investment Board Acquires 1,479 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Public Sector Pension Investment Board grew its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 5.0% during the second quarter, Holdings Channel.com reports. The fund owned 30,914 shares of the company’s stock after purchasing an additional 1,479 shares during the quarter. Public Sector Pension Investment Board’s holdings in Futu were worth $2,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UniSuper Management Pty Ltd lifted its stake in Futu by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Futu in the second quarter worth $50,000. Barometer Capital Management Inc. bought a new position in Futu in the fourth quarter valued at $120,000. SG Americas Securities LLC purchased a new stake in Futu during the second quarter valued at about $123,000. Finally, Atlas Capital Advisors LLC bought a new stake in Futu during the second quarter worth about $142,000.

Analyst Ratings Changes

Separately, Bank of America upped their target price on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.97.

Futu Trading Up 5.2 %

NASDAQ:FUTU opened at $85.68 on Monday. Futu Holdings Limited has a 12 month low of $43.61 and a 12 month high of $85.99. The stock has a market cap of $11.81 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.04 and a beta of 0.72. The company has a 50-day moving average price of $62.15 and a 200-day moving average price of $64.60.

Futu (NASDAQ:FUTU) last announced its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The business had revenue of $400.73 million during the quarter. Equities analysts forecast that Futu Holdings Limited will post 4.51 EPS for the current fiscal year.

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.