Futu Holdings Limited (NASDAQ:FUTU) Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 9.5% during the fourth quarter, Holdings Channel reports. The firm owned 20,975 shares of the company’s stock after acquiring an additional 1,828 shares during the quarter. Vontobel Holding Ltd.’s holdings in Futu were worth $1,146,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in shares of Futu during the first quarter worth $25,000. Wells Fargo & Company MN increased its holdings in shares of Futu by 102.4% in the 4th quarter. Wells Fargo & Company MN now owns 923 shares of the company’s stock worth $38,000 after acquiring an additional 467 shares during the period. Advisors Preferred LLC acquired a new stake in shares of Futu in the 4th quarter worth about $53,000. Assetmark Inc. acquired a new stake in shares of Futu in the 3rd quarter worth about $61,000. Finally, Royal Bank of Canada increased its holdings in shares of Futu by 12.4% in the 2nd quarter. Royal Bank of Canada now owns 2,405 shares of the company’s stock worth $96,000 after acquiring an additional 266 shares during the period.

Futu Stock Performance

NASDAQ:FUTU opened at $54.77 on Friday. Futu Holdings Limited has a twelve month low of $35.91 and a twelve month high of $67.49. The company has a 50-day moving average of $54.98 and a 200-day moving average of $54.41.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Thursday, March 14th. The company reported $0.81 earnings per share for the quarter. Futu had a net margin of 42.77% and a return on equity of 18.46%. The company had revenue of $303.84 million during the quarter, compared to analyst estimates of $374.14 million. Analysts forecast that Futu Holdings Limited will post 4.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on FUTU. UBS Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Friday, January 5th. CLSA raised shares of Futu from an “underperform” rating to an “outperform” rating and increased their price objective for the stock from $50.00 to $65.00 in a report on Monday, March 18th. Citigroup decreased their target price on shares of Futu from $76.90 to $75.30 and set a “buy” rating for the company in a research report on Friday, March 15th. Morgan Stanley upgraded shares of Futu from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $40.00 to $50.00 in a research report on Thursday, January 4th. Finally, JPMorgan Chase & Co. lowered shares of Futu from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $64.00 to $62.00 in a research report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.83.

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.