Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Signaturefd LLC

Signaturefd LLC cut its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,328 shares of the company’s stock after selling 287 shares during the quarter. Signaturefd LLC’s holdings in Futu were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in shares of Futu by 7.4% during the 3rd quarter. California State Teachers Retirement System now owns 69,699 shares of the company’s stock worth $4,029,000 after acquiring an additional 4,829 shares during the period. AustralianSuper Pty Ltd raised its stake in Futu by 18.7% during the third quarter. AustralianSuper Pty Ltd now owns 205,426 shares of the company’s stock worth $11,876,000 after purchasing an additional 32,420 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Futu in the 3rd quarter valued at $240,000. Advisors Preferred LLC purchased a new stake in shares of Futu during the 4th quarter valued at $53,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Futu by 24.2% during the 3rd quarter. GSA Capital Partners LLP now owns 14,489 shares of the company’s stock worth $838,000 after buying an additional 2,824 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. downgraded Futu from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $64.00 to $62.00 in a research report on Friday, March 15th. Morgan Stanley raised shares of Futu from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $40.00 to $50.00 in a research report on Thursday, January 4th. UBS Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Friday, January 5th. CLSA raised shares of Futu from an “underperform” rating to an “outperform” rating and raised their target price for the company from $50.00 to $65.00 in a research note on Monday, March 18th. Finally, Citigroup reduced their target price on shares of Futu from $76.90 to $75.30 and set a “buy” rating on the stock in a report on Friday, March 15th. Two analysts have 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, Futu currently has an average rating of “Moderate Buy” and a consensus price target of $62.83.

Futu Stock Performance

Shares of FUTU stock opened at $65.28 on Tuesday. The firm has a fifty day simple moving average of $56.47 and a 200-day simple moving average of $54.54. Futu Holdings Limited has a twelve month low of $35.91 and a twelve month high of $68.92.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Thursday, March 14th. The company reported $0.81 EPS for the quarter. The firm had revenue of $303.84 million for the quarter, compared to analyst estimates of $374.14 million. Futu had a net margin of 42.77% and a return on equity of 18.46%. As a group, equities analysts predict that Futu Holdings Limited will post 4.47 earnings per share 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.