Futu Holdings Limited (NASDAQ:FUTU) Stock Position Reduced by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 357,995 shares of the company's stock after selling 16,198 shares during the quarter. SG Americas Securities LLC owned about 0.26% of Futu worth $36,641,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in Futu by 1,245.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock valued at $36,000 after acquiring an additional 411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Futu by 77.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock worth $36,000 after acquiring an additional 197 shares during the period. Rakuten Securities Inc. increased its stake in Futu by 239.8% during the 4th 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. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Futu in the fourth quarter worth about $60,000. Finally, Assetmark Inc. increased its stake in shares of Futu by 15,200.0% in 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 last quarter.

Futu Trading Down 1.3%

FUTU stock traded down $1.39 during mid-day trading on Tuesday, reaching $107.57. 1,381,095 shares of the stock traded hands, compared to its average volume of 2,872,190. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88. The stock's fifty day moving average is $96.55 and its 200-day moving average is $96.88. The company has a market cap of $14.97 billion, a P/E ratio of 26.37, a P/E/G ratio of 0.79 and a beta of 0.58.

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

Wall Street Analyst Weigh In

FUTU has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. UBS Group upped their price target 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.