CIBC Asset Management Inc Has $517,000 Holdings in Futu Holdings Limited (NASDAQ:FUTU)

CIBC Asset Management Inc lifted its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,403 shares of the company’s stock after acquiring an additional 222 shares during the quarter. CIBC Asset Management Inc’s holdings in Futu were worth $517,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. UniSuper Management Pty Ltd grew its holdings in shares of Futu by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after purchasing an additional 400 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Futu during the 2nd quarter worth approximately $50,000. GAMMA Investing LLC increased its position in Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after acquiring an additional 383 shares during the period. CWM LLC raised its stake in shares of Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after acquiring an additional 300 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Futu during the third quarter worth $92,000.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FUTU. Bank of America increased their price objective on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $115.00 in a research report on Monday. Finally, Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and increased their target price for the company from $79.00 to $95.00 in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.07.

Futu Stock Performance

Shares of FUTU stock opened at $88.99 on Thursday. The company has a market cap of $12.26 billion, a P/E ratio of 22.99, a PEG ratio of 0.93 and a beta of 0.75. Futu Holdings Limited has a fifty-two week low of $43.61 and a fifty-two week high of $130.50. The stock has a 50 day simple moving average of $91.81 and a two-hundred day simple moving average of $75.49.

Futu (NASDAQ:FUTU) last released its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. The company had revenue of $400.73 million for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. On average, research analysts predict that Futu Holdings Limited will post 4.75 earnings per share for the current 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.