Creative Planning Raises Stake in Futu Holdings Limited (NASDAQ:FUTU)

Creative Planning boosted its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 6.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,091 shares of the company’s stock after purchasing an additional 838 shares during the period. Creative Planning’s holdings in Futu were worth $1,348,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in FUTU. Sequoia Financial Advisors LLC grew its position in shares of Futu by 6.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock valued at $238,000 after acquiring an additional 269 shares during the period. BNP Paribas Financial Markets lifted its stake in Futu by 6.7% in the first quarter. BNP Paribas Financial Markets now owns 100,616 shares of the company’s stock valued at $5,448,000 after purchasing an additional 6,317 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Futu by 24.2% in the first quarter. Janney Montgomery Scott LLC now owns 10,318 shares of the company’s stock worth $559,000 after buying an additional 2,011 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Futu by 8.6% in the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $206,000 after buying an additional 300 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Futu by 32.0% in the first quarter. GSA Capital Partners LLP now owns 52,941 shares of the company’s stock valued at $2,867,000 after buying an additional 12,840 shares during the period.

Futu Price Performance

Shares of FUTU stock opened at $96.14 on Thursday. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 0.97 and a beta of 0.74. The company’s fifty day simple moving average is $81.70 and its two-hundred day simple moving average is $72.04. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $130.50.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. The business had revenue of $400.73 million for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. Equities research analysts anticipate that Futu Holdings Limited will post 4.78 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.