Mercer Global Advisors Inc. ADV Acquires 1,128 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 9.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 12,521 shares of the company’s stock after acquiring an additional 1,128 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Futu were worth $821,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in FUTU. Prudential PLC lifted its stake in Futu by 23.2% during the fourth quarter. Prudential PLC now owns 597,476 shares of the company’s stock worth $32,640,000 after purchasing an additional 112,497 shares during the period. E Fund Management Co. Ltd. bought a new position in shares of Futu during the second quarter valued at $31,490,000. HCEP Management Ltd boosted its stake in shares of Futu by 37.7% in the 4th quarter. HCEP Management Ltd now owns 400,000 shares of the company’s stock valued at $21,852,000 after purchasing an additional 109,499 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Futu by 3,253,333.3% in the 2nd quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock worth $18,790,000 after purchasing an additional 292,800 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Futu by 1,159.9% during the 2nd quarter. Renaissance Technologies LLC now owns 292,300 shares of the company’s stock valued at $19,176,000 after purchasing an additional 269,100 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Bank of America boosted 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 equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Futu presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.57.

Futu Stock Up 7.9 %

NASDAQ:FUTU opened at $81.47 on Friday. The business has a 50 day moving average price of $61.30 and a two-hundred day moving average price of $64.31. The company has a market cap of $11.23 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 1.04 and a beta of 0.72. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $83.04.

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

About Futu

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.