Livforsakringsbolaget Skandia Omsesidigt Takes $1.51 Million Position in Futu Holdings Limited (NASDAQ:FUTU)

Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Futu Holdings Limited (NASDAQ:FUTU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,800 shares of the company’s stock, valued at approximately $1,511,000.

Other institutional investors also recently bought and sold shares of the company. UniSuper Management Pty Ltd lifted its stake in shares of Futu by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after buying an additional 400 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Futu during the 2nd quarter valued at $50,000. GAMMA Investing LLC increased its holdings in shares of Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after purchasing an additional 383 shares in the last quarter. CWM LLC raised its stake in shares of Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after purchasing an additional 300 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Futu during the second quarter valued at $123,000.

Wall Street Analyst Weigh In

Separately, Bank of America boosted their target price on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One investment 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $72.97.

Futu Price Performance

Shares of FUTU opened at $111.02 on Friday. Futu Holdings Limited has a one year low of $43.61 and a one year high of $130.50. The business has a fifty day moving average of $72.71 and a 200 day moving average of $68.61. The firm has a market capitalization of $15.30 billion, a P/E ratio of 28.69, a PEG ratio of 1.65 and a beta of 0.74.

Futu (NASDAQ:FUTU) last announced its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The company had revenue of $400.73 million during the quarter. Analysts expect that Futu Holdings Limited will post 4.28 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.