SG Americas Securities LLC Has $36.64 Million Position in Futu Holdings Limited (NASDAQ:FUTU)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after buying an additional 411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Futu by 77.3% in the fourth 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 in the last quarter. Rakuten Securities Inc. grew its position in Futu by 239.8% in the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock worth $55,000 after acquiring an additional 482 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Futu during the 4th quarter worth $60,000. Finally, Assetmark Inc. raised its holdings in shares of Futu by 15,200.0% during the 4th quarter. Assetmark Inc. now owns 765 shares of the company's stock valued at $61,000 after purchasing an additional 760 shares in the last quarter.

Futu Price Performance

NASDAQ:FUTU traded down $2.62 during midday trading on Friday, reaching $111.50. The stock had a trading volume of 857,823 shares, compared to its average volume of 2,884,292. The stock has a market capitalization of $15.51 billion, a P/E ratio of 27.33, a PEG 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. The firm's fifty day simple moving average is $98.80 and its 200-day simple moving average is $97.47.

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $603.43 million for the quarter, compared to the consensus estimate of $594.86 million. On average, equities research analysts anticipate that Futu Holdings Limited will post 4.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FUTU shares. UBS Group upped their price objective on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. upped their price target on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Finally, Bank of America increased their price objective on Futu from $123.70 to $143.90 and gave the company a "buy" rating in a report on Wednesday. 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $131.98.

About Futu

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.