Public Employees Retirement Association of Colorado Sells 851 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Public Employees Retirement Association of Colorado lessened its position in Futu Holdings Limited (NASDAQ:FUTU) by 6.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,991 shares of the company’s stock after selling 851 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Futu were worth $787,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in Futu during the 1st quarter valued at $747,000. Seven Eight Capital LP bought a new stake in shares of Futu during the second quarter worth about $1,956,000. HCEP Management Ltd raised its holdings in shares of Futu by 37.7% in the 4th quarter. HCEP Management Ltd now owns 400,000 shares of the company’s stock worth $21,852,000 after acquiring an additional 109,499 shares during the last quarter. Prudential PLC lifted its position in Futu by 23.2% in the 4th quarter. Prudential PLC now owns 597,476 shares of the company’s stock valued at $32,640,000 after acquiring an additional 112,497 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Futu by 3,253,333.3% during the 2nd quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock valued at $18,790,000 after purchasing an additional 292,800 shares during the last quarter.

Futu Trading Up 0.9 %

Shares of FUTU opened at $75.52 on Thursday. The stock has a 50 day moving average of $61.07 and a 200 day moving average of $64.23. Futu Holdings Limited has a 12 month low of $43.61 and a 12 month high of $81.86. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.04 and a beta of 0.72.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The company had revenue of $400.73 million for the quarter. As a group, equities research analysts predict that Futu Holdings Limited will post 4.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Bank of America increased their price objective on Futu from $77.60 to $80.20 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Futu currently has an average rating of “Moderate Buy” and a consensus target price of $71.57.

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.