Venturi Wealth Management LLC Invests $92,000 in Futu Holdings Limited (NASDAQ:FUTU)

Venturi Wealth Management LLC acquired a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 958 shares of the company’s stock, valued at approximately $92,000.

A number of other large investors have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after acquiring an additional 383 shares during the last quarter. CWM LLC increased 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Futu in the second quarter valued at approximately $50,000. UniSuper Management Pty Ltd lifted its stake in shares of Futu by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after buying an additional 400 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Futu in the 2nd quarter worth approximately $123,000.

Analysts Set New Price Targets

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

Futu Stock Down 2.3 %

Shares of NASDAQ FUTU opened at $88.68 on Friday. The stock’s 50-day simple moving average is $88.82 and its two-hundred day simple moving average is $74.73. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $130.50. The firm has a market capitalization of $12.22 billion, a P/E ratio of 22.91, a P/E/G ratio of 0.97 and a beta of 0.75.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share 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 for the quarter. As a group, research analysts anticipate that Futu Holdings Limited will post 4.75 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.