Aviva PLC Purchases New Position in Futu Holdings Limited (NASDAQ:FUTU)

Aviva PLC purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) in the 2nd quarter, Holdings Channel reports. The fund purchased 24,576 shares of the company’s stock, valued at approximately $4,401,000.

A number of other hedge funds have also recently made changes to their positions in FUTU. Harbor Investment Advisory LLC bought a new position in Futu during the 2nd quarter valued at about $37,000. Quadrant Capital Group LLC lifted its holdings in Futu by 266.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 205 shares of the company’s stock valued at $37,000 after purchasing an additional 149 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Futu in the second quarter worth about $45,000. Pinpoint Asset Management Ltd bought a new position in shares of Futu in the first quarter worth about $48,000. Finally, Parallel Advisors LLC raised its stake in shares of Futu by 165.9% in the second quarter. Parallel Advisors LLC now owns 492 shares of the company’s stock worth $88,000 after acquiring an additional 307 shares during the last quarter. 21.22% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the stock. TheStreet downgraded shares of Futu from a “c-” rating to a “d” rating in a research note on Friday, June 11th. Zacks Investment Research downgraded shares of Futu from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 3rd. BOCOM International raised shares of Futu from a “neutral” rating to a “buy” rating and set a $142.00 target price for the company in a research note on Monday, August 2nd. Finally, The Goldman Sachs Group started coverage on shares of Futu in a research note on Tuesday, July 13th. They issued a “neutral” rating and a $158.27 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $193.38.

Shares of NASDAQ:FUTU opened at $95.62 on Friday. Futu Holdings Limited has a one year low of $27.15 and a one year high of $204.25. The company has a 50 day moving average of $108.94 and a 200-day moving average of $131.72. The stock has a market cap of $13.89 billion, a price-to-earnings ratio of 40.52 and a beta of 1.23.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Monday, August 30th. The company reported $3.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.64 by ($1.06). Futu had a net margin of 44.47% and a return on equity of 20.44%. On average, sell-side analysts anticipate that Futu Holdings Limited will post 2.43 EPS for the current year.

About Futu

Futu Holdings Ltd. is an advanced technology company, which engages in online brokerage and wealth management services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The firm’s fee-generating services include trade execution, as well as margin financing and securities lending, which allow its clients to trade securities, such as stocks, ETFs, warrants, options and futures, across different markets.

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Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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