UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $8.05 Million Holdings in Futu Holdings Limited (NASDAQ:FUTU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 82.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,607 shares of the company's stock after selling 458,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.07% of Futu worth $8,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Futu in the fourth quarter valued at approximately $39,163,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Futu by 183.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company's stock valued at $26,669,000 after buying an additional 215,840 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Futu by 189.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company's stock valued at $3,123,000 after buying an additional 25,557 shares during the period. Northern Trust Corp boosted its stake in shares of Futu by 89.8% in the fourth quarter. Northern Trust Corp now owns 348,413 shares of the company's stock valued at $27,870,000 after buying an additional 164,892 shares during the period. Finally, Sei Investments Co. raised its position in Futu by 381.3% during the fourth quarter. Sei Investments Co. now owns 51,903 shares of the company's stock valued at $4,152,000 after purchasing an additional 41,119 shares in the last quarter.

Analyst Ratings Changes

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

Futu Stock Up 6.9%

Shares of NASDAQ:FUTU traded up $7.27 during trading on Wednesday, hitting $112.14. 3,035,594 shares of the company were exchanged, compared to its average volume of 2,864,042. The business's 50 day moving average is $96.28 and its 200-day moving average is $96.33. The company has a market capitalization of $15.60 billion, a P/E ratio of 27.49, a price-to-earnings-growth 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.

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, topping the consensus estimate of $1.95 by $0.01. The company had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. Futu had a net margin of 38.59% and a return on equity of 16.86%. As a group, sell-side analysts anticipate that Futu Holdings Limited will post 4.94 earnings per share for the current year.

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.