UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 82.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 100,607 shares of the company’s stock after selling 458,139 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Futu were worth $8,048,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in Futu by 1,245.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock worth $36,000 after purchasing an additional 411 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 purchasing an additional 197 shares during the period. Rakuten Securities Inc. raised its stake in Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock worth $55,000 after purchasing an additional 482 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Futu during the fourth quarter worth about $60,000. Finally, Assetmark Inc. raised its stake in Futu by 15,200.0% during the fourth quarter. Assetmark Inc. now owns 765 shares of the company’s stock worth $61,000 after purchasing an additional 760 shares during the period.

Futu Stock Performance

Futu stock opened at $101.69 on Friday. The company’s 50 day simple moving average is $96.28 and its 200-day simple moving average is $96.01. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FUTU shares. JPMorgan Chase & Co. boosted their price target on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. UBS Group boosted their price target on shares of Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company 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.