Voloridge Investment Management LLC Has $5.72 Million Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Voloridge Investment Management LLC cut its holdings in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 87.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,475 shares of the company's stock after selling 486,061 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.05% of Futu worth $5,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its position 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 buying an additional 411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Futu by 77.3% during 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 during the last quarter. Rakuten Securities Inc. lifted its stake in shares of Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock valued at $55,000 after acquiring an additional 482 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Futu in the fourth quarter valued at about $60,000. Finally, Assetmark Inc. boosted its holdings in Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock valued at $61,000 after acquiring an additional 760 shares during the last quarter.

Futu Stock Down 5.3%

Shares of Futu stock traded down $5.67 during trading on Friday, reaching $101.69. 3,659,905 shares of the company were exchanged, compared to its average volume of 2,860,323. The business has a 50-day moving average price of $96.28 and a 200-day moving average price of $96.01. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88.

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

Analysts Set New Price Targets

Several analysts have weighed in on FUTU shares. JPMorgan Chase & Co. boosted their price objective on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. UBS Group lifted their price target 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Futu 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.