Prospera Financial Services Inc Has $224,000 Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

Prospera Financial Services Inc lowered its holdings in shares of Futu Holdings Limited (NASDAQ:FUTUGet Rating) by 13.2% in the first quarter, HoldingsChannel reports. The firm owned 6,867 shares of the company’s stock after selling 1,048 shares during the period. Prospera Financial Services Inc’s holdings in Futu were worth $224,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FUTU. Quadrant Capital Group LLC grew its holdings in Futu by 313.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,335 shares of the company’s stock worth $58,000 after purchasing an additional 1,012 shares during the period. Toronto Dominion Bank grew its holdings in Futu by 172.1% during the fourth quarter. Toronto Dominion Bank now owns 3,695 shares of the company’s stock worth $160,000 after purchasing an additional 2,337 shares during the period. IFM Investors Pty Ltd grew its holdings in Futu by 23.1% during the first quarter. IFM Investors Pty Ltd now owns 8,988 shares of the company’s stock worth $293,000 after purchasing an additional 1,688 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in Futu by 14.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 7,200 shares of the company’s stock worth $312,000 after purchasing an additional 924 shares during the period. Finally, Bayesian Capital Management LP bought a new position in Futu during the fourth quarter worth about $325,000. Institutional investors own 23.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FUTU. CLSA cut Futu from an “underperform” rating to a “sell” rating and set a $27.00 price objective for the company. in a report on Monday, June 6th. JPMorgan Chase & Co. downgraded shares of Futu from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Thursday, June 23rd. Finally, Bank of America upgraded shares of Futu from an “underperform” rating to a “buy” rating in a research report on Friday, June 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.63.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $42.10 on Thursday. The company has a fifty day moving average of $45.59 and a 200-day moving average of $37.86. The company has a market capitalization of $6.33 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 0.76 and a beta of 0.24. Futu Holdings Limited has a 52-week low of $21.23 and a 52-week high of $119.38.

Futu (NASDAQ:FUTUGet Rating) last announced its quarterly earnings results on Monday, June 6th. The company reported $0.49 earnings per share (EPS) for the quarter. The company had revenue of $209.51 million during the quarter. Futu had a net margin of 33.88% and a return on equity of 10.59%. During the same quarter last year, the company posted $1.03 earnings per share. On average, equities analysts forecast that Futu Holdings Limited will post 2.27 EPS for the current fiscal year.

About Futu

(Get Rating)

Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the brand of Futu Money Plus through its Futubull and moomoo platforms, which give access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.

Read More

Want to see what other hedge funds are holding FUTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Futu Holdings Limited (NASDAQ:FUTUGet Rating).

Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

Receive News & Ratings for Futu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Futu and related companies with MarketBeat.com's FREE daily email newsletter.