Rhumbline Advisers Has $1.43 Million Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Rhumbline Advisers cut its stake in Futu Holdings Limited (NASDAQ:FUTU) by 45.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,813 shares of the company’s stock after selling 18,186 shares during the period. Rhumbline Advisers’ holdings in Futu were worth $1,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. UniSuper Management Pty Ltd raised its stake in shares of Futu by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after acquiring an additional 400 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Futu in the second quarter worth about $50,000. Barometer Capital Management Inc. bought a new position in shares of Futu in the fourth quarter worth about $120,000. SG Americas Securities LLC bought a new position in shares of Futu in the second quarter worth about $123,000. Finally, Atlas Capital Advisors LLC bought a new position in shares of Futu in the second quarter worth about $142,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FUTU. Bank of America boosted their target price on shares of Futu from $77.60 to $80.20 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised shares of Futu from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $62.00 to $92.00 in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.57.

Futu Stock Performance

Shares of NASDAQ FUTU opened at $65.53 on Friday. The stock has a market cap of $9.03 billion, a P/E ratio of 17.34, a P/E/G ratio of 0.92 and a beta of 0.72. The firm has a 50 day moving average price of $60.93 and a 200 day moving average price of $63.97. Futu Holdings Limited has a 52-week low of $43.61 and a 52-week high of $81.86.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) 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%. Analysts predict that Futu Holdings Limited will post 4.51 earnings per share 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.