Sumitomo Mitsui DS Asset Management Company Ltd Sells 1,783 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 26.6% in the third quarter, Holdings Channel reports. The firm owned 4,920 shares of the company’s stock after selling 1,783 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Futu were worth $471,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. UniSuper Management Pty Ltd increased its position in shares of Futu by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after acquiring an additional 400 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Futu in the 2nd quarter worth about $50,000. GAMMA Investing LLC lifted its stake in Futu by 181.5% during 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 boosted its holdings in shares of Futu by 67.7% during the 3rd 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, SG Americas Securities LLC bought a new stake in shares of Futu in the second quarter worth approximately $123,000.

Futu Price Performance

Shares of FUTU stock opened at $92.37 on Wednesday. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.65 and a beta of 0.74. The company’s fifty day moving average price is $77.87 and its 200-day moving average price is $70.67. Futu Holdings Limited has a one year low of $43.61 and a one year high of $130.50.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data 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 for the quarter. Equities research analysts expect that Futu Holdings Limited will post 4.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Bank of America raised their target price on shares of Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.97.

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.