APG Asset Management N.V. Makes New $496,000 Investment in Futu Holdings Limited (NASDAQ:FUTU)

APG Asset Management N.V. purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,102 shares of the company’s stock, valued at approximately $496,000.

Other hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in Futu during the 1st quarter valued at $747,000. Seven Eight Capital LP purchased a new stake in Futu in the 2nd quarter worth about $1,956,000. HCEP Management Ltd boosted its position in Futu by 37.7% during 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 period. Prudential PLC grew its stake in Futu by 23.2% during 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 lifted its position in shares of Futu by 3,253,333.3% in the second 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 in the last quarter.

Analysts Set New Price Targets

Separately, Bank of America increased their price objective on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.97.

Futu Trading Up 12.4 %

FUTU stock opened at $107.54 on Wednesday. The firm has a market cap of $14.82 billion, a PE ratio of 28.45, a PEG ratio of 1.04 and a beta of 0.72. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $108.60. The company has a fifty day simple moving average of $63.72 and a 200 day simple moving average of $65.26.

Futu (NASDAQ:FUTU) last announced 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 return on equity of 16.77% and a net margin of 39.27%. As a group, analysts forecast that Futu Holdings Limited will post 4.51 EPS for the current fiscal year.

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.