10,516 Shares in Futu Holdings Limited (NASDAQ:FUTU) Acquired by Engineers Gate Manager LP

Engineers Gate Manager LP acquired a new position in Futu Holdings Limited (NASDAQ:FUTU – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,516 shares of the company’s stock, valued at approximately $392,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Toroso Investments LLC grew its position in Futu by 2.9% during the first quarter. Toroso Investments LLC now owns 13,502 shares of the company’s stock valued at $440,000 after acquiring an additional 378 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Futu by 25.2% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,132 shares of the company’s stock valued at $111,000 after purchasing an additional 429 shares during the period. Signaturefd LLC boosted its stake in shares of Futu by 25.8% during the third quarter. Signaturefd LLC now owns 2,752 shares of the company’s stock valued at $103,000 after purchasing an additional 565 shares during the period. Ronald Blue Trust Inc. boosted its stake in shares of Futu by 596.9% during the third quarter. Ronald Blue Trust Inc. now owns 683 shares of the company’s stock valued at $36,000 after purchasing an additional 585 shares during the period. Finally, Virtu Financial LLC boosted its stake in shares of Futu by 2.5% during the third quarter. Virtu Financial LLC now owns 24,671 shares of the company’s stock valued at $920,000 after purchasing an additional 611 shares during the period. 19.92% of the stock is currently owned by institutional investors.

Futu Trading Up 1.6 %

Shares of Futu stock opened at $46.05 on Tuesday. The firm has a market capitalization of $6.92 billion, a P/E ratio of 21.32, a P/E/G ratio of 7.25 and a beta of 0.80. The business has a fifty day simple moving average of $48.91 and a two-hundred day simple moving average of $47.94. Futu Holdings Limited has a 12 month low of $21.23 and a 12 month high of $72.20.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FUTU. Bank of America lowered Futu from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $59.60 to $27.00 in a research note on Friday, December 30th. TheStreet raised Futu from a “c+” rating to a “b-” rating in a research note on Thursday, December 15th. CLSA lowered Futu from a “buy” rating to a “reduce” rating and set a $43.00 price objective for the company. in a research note on Tuesday, January 3rd. Finally, Credit Suisse Group lowered Futu from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $61.00 to $64.00 in a research note on Friday, December 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Futu has an average rating of “Hold” and a consensus target price of $52.52.

About Futu

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Futu Holdings Ltd. is an advanced technology company, which engages in online brokerage and wealth management services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The firm’s fee-generating services include trade execution, as well as margin financing and securities lending, which allow its clients to trade securities, such as stocks, ETFs, warrants, options and futures, across different markets.