Two Sigma Investments LP Sells 39,129 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Two Sigma Investments LP lessened its holdings in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 53.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,766 shares of the company's stock after selling 39,129 shares during the period. Two Sigma Investments LP's holdings in Futu were worth $2,701,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FUTU. KBC Group NV lifted its stake in Futu by 28.2% in the fourth quarter. KBC Group NV now owns 42,692 shares of the company's stock valued at $3,415,000 after acquiring an additional 9,401 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Futu in the fourth quarter worth $1,200,000. abrdn plc increased its position in Futu by 527.0% during the fourth quarter. abrdn plc now owns 65,170 shares of the company's stock worth $5,246,000 after buying an additional 54,776 shares during the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of Futu in the 4th quarter valued at approximately $280,000. Finally, WT Asset Management Ltd lifted its holdings in Futu by 899.8% in the 4th quarter. WT Asset Management Ltd now owns 149,977 shares of the company's stock worth $11,997,000 after purchasing an additional 134,977 shares during the last quarter.

Futu Trading Up 5.1%

NASDAQ FUTU traded up $5.35 during trading hours on Wednesday, reaching $110.22. 971,944 shares of the company's stock were exchanged, compared to its average volume of 2,850,764. The firm has a fifty day moving average of $96.11 and a 200-day moving average of $96.22. Futu Holdings Limited has a one year low of $51.80 and a one year high of $130.88. The stock has a market cap of $15.34 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings data 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 business had revenue of $603.43 million for the quarter, compared to analysts' expectations of $594.86 million. Futu had a return on equity of 16.86% and a net margin of 38.59%. As a group, research analysts forecast that Futu Holdings Limited will post 4.94 EPS for the current year.

Analyst Ratings Changes

FUTU has been the topic of a number of research reports. UBS Group boosted their target price on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. JPMorgan Chase & Co. upped 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.20.

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.