Cetera Investment Advisers Takes $268,000 Position in Futu Holdings Limited (NASDAQ:FUTU)

Cetera Investment Advisers purchased a new position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,351 shares of the company's stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of FUTU. Smartleaf Asset Management LLC increased its stake in shares of Futu by 1,245.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after buying an additional 411 shares during the period. Rakuten Securities Inc. increased its stake in shares of Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock worth $55,000 after buying an additional 482 shares during the period. Assetmark Inc. increased its stake in shares of Futu by 15,200.0% during the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after buying an additional 760 shares during the period. 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. Finally, Platinum Investment Management Ltd. purchased a new stake in shares of Futu during the fourth quarter worth approximately $86,000.

Analysts Set New Price Targets

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

Futu Stock Up 1.8%

FUTU traded up $1.80 on Monday, reaching $103.73. The company's stock had a trading volume of 1,581,860 shares, compared to its average volume of 2,855,018. The stock has a 50 day moving average of $96.28 and a two-hundred day moving average of $96.06. The company has a market capitalization of $14.43 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88.

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

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.