Renaissance Technologies LLC Has $19.18 Million Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Renaissance Technologies LLC increased its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 1,159.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 292,300 shares of the company’s stock after acquiring an additional 269,100 shares during the quarter. Renaissance Technologies LLC owned about 0.19% of Futu worth $19,176,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its stake in shares of Futu by 3.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock valued at $394,000 after acquiring an additional 230 shares during the period. Signaturefd LLC lifted its stake in shares of Futu by 8.4% during the second quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock valued at $210,000 after acquiring an additional 247 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Futu by 6.5% during the first quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock valued at $238,000 after acquiring an additional 269 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Futu by 8.6% during the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock valued at $206,000 after acquiring an additional 300 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in Futu by 3.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company’s stock valued at $602,000 after buying an additional 343 shares during the period.

Wall Street Analyst Weigh In

FUTU has been the topic of several analyst reports. Bank of America increased their target price on Futu from $77.60 to $80.20 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised Futu from a “neutral” rating to an “overweight” rating and increased their target price for the company from $62.00 to $92.00 in a research note on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.57.

Futu Stock Down 3.4 %

Futu stock opened at $65.53 on Friday. The stock has a market capitalization of $9.03 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.72. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $81.86. The company has a 50 day moving average of $60.93 and a 200-day moving average of $63.91.

Futu (NASDAQ:FUTU) last released its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The company 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%. Equities analysts anticipate that Futu Holdings Limited will post 4.51 EPS for the current fiscal year.

Futu 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.