8,209 Shares in Futu Holdings Limited (NASDAQ:FUTU) Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd bought a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) during the third quarter, HoldingsChannel.com reports. The firm bought 8,209 shares of the company’s stock, valued at approximately $784,000.

A number of other hedge funds have also recently bought and sold shares of FUTU. APG Asset Management N.V. acquired a new position in shares of Futu in the 2nd quarter valued at $496,000. Valliance Asset Management Ltd acquired a new position in shares of Futu in the 3rd quarter valued at $956,000. Sei Investments Co. boosted its holdings in shares of Futu by 261.3% in the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock valued at $1,663,000 after purchasing an additional 18,334 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Futu in the 2nd quarter valued at $1,956,000. Finally, WT Asset Management Ltd acquired a new position in shares of Futu in the 3rd quarter valued at $1,435,000.

Analyst Upgrades and Downgrades

Separately, Bank of America lifted their price target on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.97.

Futu Trading Down 2.3 %

Shares of FUTU stock opened at $88.68 on Friday. The company’s fifty day simple moving average is $88.82 and its 200-day simple moving average is $74.73. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $130.50. The company has a market cap of $12.22 billion, a PE ratio of 22.91, a P/E/G ratio of 0.97 and a beta of 0.75.

Futu (NASDAQ:FUTU) last issued its earnings results on Tuesday, August 20th. The company reported $1.11 EPS 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 for the quarter. Equities research analysts expect that Futu Holdings Limited will post 4.75 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.