abrdn plc Buys 807 Shares of Futu Holdings Limited (NASDAQ:FUTU)

abrdn plc lifted its position in Futu Holdings Limited (NASDAQ:FUTU) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,394 shares of the company’s stock after buying an additional 807 shares during the quarter. abrdn plc’s holdings in Futu were worth $994,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. APG Asset Management N.V. acquired a new position in shares of Futu during the 2nd quarter worth about $496,000. Sei Investments Co. increased its position in Futu by 261.3% during the second quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock worth $1,663,000 after buying an additional 18,334 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Futu in the first quarter valued at approximately $747,000. Seven Eight Capital LP acquired a new stake in shares of Futu in the second quarter valued at approximately $1,956,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Futu by 221.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 90,000 shares of the company’s stock worth $5,904,000 after acquiring an additional 62,000 shares during the period.

Analyst Upgrades and Downgrades

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

Futu Stock Performance

Shares of NASDAQ FUTU opened at $96.90 on Tuesday. The stock has a market capitalization of $13.35 billion, a P/E ratio of 25.04, a PEG ratio of 0.99 and a beta of 0.75. The stock’s fifty day moving average is $83.71 and its 200 day moving average is $73.01. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $130.50.

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