UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Futu Holdings Limited (NASDAQ:FUTU)

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

Several other hedge funds also recently made changes to their positions in the company. Worldquant Millennium Advisors LLC bought a new stake in shares of Futu during the fourth quarter valued at approximately $8,404,000. Wexford Capital LP bought a new stake in Futu in the fourth quarter worth $758,000. Twinbeech Capital LP bought a new stake in Futu in the fourth quarter worth $4,307,000. Tidal Investments LLC boosted its holdings in Futu by 5.3% in the fourth quarter. Tidal Investments LLC now owns 10,025 shares of the company's stock worth $802,000 after acquiring an additional 508 shares in the last quarter. Finally, Tiger Pacific Capital LP boosted its holdings in Futu by 71.6% in the fourth quarter. Tiger Pacific Capital LP now owns 108,100 shares of the company's stock worth $8,647,000 after acquiring an additional 45,100 shares in the last quarter.

Futu Stock Performance

Shares of FUTU stock traded up $1.80 during mid-day trading on Monday, hitting $103.73. The company's stock had a trading volume of 1,582,288 shares, compared to its average volume of 2,855,022. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88. The business has a 50-day moving average price of $96.28 and a 200 day moving average price of $96.06. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 0.79 and a beta of 0.67.

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

Analyst Upgrades and Downgrades

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

Futu 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.