Futu Holdings Limited (NASDAQ:FUTU) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 200.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,689 shares of the company's stock after buying an additional 13,136 shares during the quarter. Ameriprise Financial Inc.'s holdings in Futu were worth $1,579,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FUTU. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Futu by 1.2% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company's stock worth $746,000 after purchasing an additional 113 shares during the period. Rhumbline Advisers grew its position in shares of Futu by 0.6% during the fourth quarter. Rhumbline Advisers now owns 23,023 shares of the company's stock worth $1,842,000 after buying an additional 144 shares in the last quarter. Vestcor Inc increased its stake in shares of Futu by 19.2% during the fourth quarter. Vestcor Inc now owns 907 shares of the company's stock worth $73,000 after buying an additional 146 shares during the period. Voya Investment Management LLC raised its holdings in Futu by 1.6% in the fourth quarter. Voya Investment Management LLC now owns 9,549 shares of the company's stock valued at $764,000 after acquiring an additional 153 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after acquiring an additional 411 shares during the last quarter.

Futu Stock Performance

NASDAQ FUTU traded up $3.00 during trading hours on Wednesday, reaching $107.87. The company's stock had a trading volume of 571,761 shares, compared to its average volume of 2,848,793. The company's 50-day moving average is $96.11 and its two-hundred day moving average is $96.22. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88. The stock has a market cap of $15.01 billion, a PE ratio of 26.28, a PEG ratio of 0.79 and a beta of 0.67.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.01. The company had revenue of $603.43 million for the quarter, compared to analysts' expectations of $594.86 million. Futu had a net margin of 38.59% and a return on equity of 16.86%. Equities analysts expect that Futu Holdings Limited will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FUTU has been the topic of a number of recent analyst reports. UBS Group increased their price objective on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. increased their price target on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Futu has an average rating of "Moderate Buy" and a consensus target price of $121.20.

About Futu

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.