WT Asset Management Ltd Makes New Investment in Futu Holdings Limited (NASDAQ:FUTU)

WT Asset Management Ltd purchased a new stake in Futu Holdings Limited (NASDAQ:FUTU) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,000 shares of the company’s stock, valued at approximately $1,435,000. Futu accounts for about 0.3% of WT Asset Management Ltd’s portfolio, making the stock its 20th largest position.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Futu by 14.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock worth $84,000 after buying an additional 112 shares during the period. DekaBank Deutsche Girozentrale increased its position in Futu by 3.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock worth $394,000 after purchasing an additional 230 shares during the period. Signaturefd LLC increased its position in Futu by 8.4% during the 2nd quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after purchasing an additional 247 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Futu by 6.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after buying an additional 269 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Futu by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock valued at $206,000 after buying an additional 300 shares during the period.

Futu Stock Performance

NASDAQ:FUTU traded up $1.56 during mid-day trading on Friday, hitting $96.55. 995,244 shares of the company’s stock traded hands, compared to its average volume of 2,279,897. The firm’s 50 day simple moving average is $82.35 and its 200 day simple moving average is $72.20. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $130.50. The company has a market cap of $13.30 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.00 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 for the quarter. The firm had revenue of $400.73 million during the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. On average, research analysts expect that Futu Holdings Limited will post 4.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Bank of America increased their price objective on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.97.

Futu Company 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.