15,000 Shares in Futu Holdings Limited (NASDAQ:FUTU) Purchased by Bailard Inc.

Bailard Inc. purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 15,000 shares of the company’s stock, valued at approximately $984,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FUTU. UniSuper Management Pty Ltd grew its stake in shares of Futu by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after buying an additional 400 shares during the last quarter. Headlands Technologies LLC bought a new position in Futu in the 4th quarter valued at $44,000. Newbridge Financial Services Group Inc. purchased a new stake in Futu in the first quarter worth $65,000. Barometer Capital Management Inc. bought a new stake in shares of Futu during the fourth quarter worth $120,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Futu during the second quarter valued at $123,000.

Wall Street Analyst Weigh In

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

Futu Stock Down 2.7 %

Shares of NASDAQ FUTU traded down $1.72 during midday trading on Monday, reaching $61.20. 1,482,897 shares of the company’s stock traded hands, compared to its average volume of 1,447,977. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 0.93 and a beta of 0.74. Futu Holdings Limited has a one year low of $43.61 and a one year high of $81.86. The stock’s 50 day simple moving average is $63.76 and its 200-day simple moving average is $62.76.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Tuesday, May 28th. The company reported $0.95 earnings per share (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 prior year, the business posted $1.08 earnings per share. Equities analysts predict that Futu Holdings Limited will post 4.59 EPS for the current fiscal year.

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.