Toronto Dominion Bank Decreases Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

Toronto Dominion Bank lessened its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 34.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,495 shares of the company's stock after selling 3,987 shares during the period. Toronto Dominion Bank's holdings in Futu were worth $599,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in Futu during the fourth quarter valued at $11,482,000. Public Employees Retirement System of Ohio grew its stake in Futu by 131.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,023 shares of the company's stock valued at $722,000 after acquiring an additional 5,123 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Futu in the fourth quarter worth about $8,404,000. Wexford Capital LP purchased a new position in shares of Futu in the fourth quarter valued at $758,000. Finally, Twinbeech Capital LP purchased a new position in shares of Futu in the 4th quarter worth $4,307,000.

Futu Trading Up 6.9%

FUTU stock traded up $7.27 during midday trading on Wednesday, hitting $112.14. 3,035,594 shares of the company's stock were exchanged, compared to its average volume of 2,864,042. The stock has a market capitalization of $15.60 billion, a PE ratio of 27.49, a P/E/G ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The business has a 50-day simple moving average of $96.28 and a two-hundred day simple moving average of $96.33.

Futu (NASDAQ:FUTU - Get Free Report) last posted 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 company had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. Futu had a return on equity of 16.86% and a net margin of 38.59%. As a group, research analysts expect that Futu Holdings Limited will post 4.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on FUTU. JPMorgan Chase & Co. upped their price objective on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. UBS Group raised their price objective on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $121.20.

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.