NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd Makes New $2.05 Million Investment in Futu Holdings Limited (NASDAQ:FUTU)

NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd acquired a new position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 20,000 shares of the company's stock, valued at approximately $2,047,000. Futu comprises about 10.0% of NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd's holdings, making the stock its 4th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Futu during the 1st quarter worth $2,719,000. GAMMA Investing LLC increased its holdings in shares of Futu by 11,542.7% during the 1st quarter. GAMMA Investing LLC now owns 90,580 shares of the company's stock worth $9,271,000 after buying an additional 89,802 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Futu by 2,723.1% during the 1st quarter. Versant Capital Management Inc now owns 1,101 shares of the company's stock worth $113,000 after buying an additional 1,062 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Futu during the 4th quarter worth $250,000. Finally, California State Teachers Retirement System increased its holdings in Futu by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 62,267 shares of the company's stock valued at $4,981,000 after purchasing an additional 692 shares in the last quarter.

Futu Price Performance

Shares of Futu stock opened at $123.51 on Tuesday. The business has a 50-day moving average of $99.76 and a 200-day moving average of $97.88. The company has a market capitalization of $17.19 billion, a PE ratio of 30.27, a P/E/G ratio of 0.79 and a beta of 0.58. 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 earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating 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 return on equity of 16.86% and a net margin of 38.59%. On average, equities analysts expect that Futu Holdings Limited will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on FUTU shares. JPMorgan Chase & Co. increased 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. Bank of America increased their price target on Futu from $123.70 to $143.90 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, UBS Group increased their price target on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. One investment 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $131.98.

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.

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