1,200 Shares in Futu Holdings Limited (NASDAQ:FUTU) Bought by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. bought a new position in Futu Holdings Limited (NASDAQ:FUTU) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,200 shares of the company’s stock, valued at approximately $65,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in shares of Futu by 11,970.7% during the 3rd quarter. Acadian Asset Management LLC now owns 1,277,439 shares of the company’s stock worth $73,819,000 after buying an additional 1,266,856 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Futu during the third quarter worth about $25,264,000. Canada Pension Plan Investment Board bought a new position in Futu during the third quarter worth about $22,823,000. SCEP Management Ltd bought a new position in Futu during the third quarter worth about $16,794,000. Finally, Prudential PLC grew its holdings in Futu by 78.1% during the third quarter. Prudential PLC now owns 484,979 shares of the company’s stock worth $28,037,000 after purchasing an additional 212,622 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FUTU. Citigroup reduced their price target on Futu from $76.90 to $75.30 and set a “buy” rating for the company in a report on Friday, March 15th. CLSA upgraded Futu from an “underperform” rating to an “outperform” rating and lifted their price target for the stock from $50.00 to $65.00 in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. cut Futu from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $64.00 to $62.00 in a report on Friday, March 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Futu has an average rating of “Moderate Buy” and an average price target of $62.83.

Futu Stock Down 0.2 %

Shares of NASDAQ FUTU traded down $0.17 during midday trading on Wednesday, reaching $76.59. The company’s stock had a trading volume of 1,131,543 shares, compared to its average volume of 1,563,490. Futu Holdings Limited has a fifty-two week low of $35.91 and a fifty-two week high of $81.86. The business’s 50 day moving average price is $62.44 and its two-hundred day moving average price is $56.24.

Futu (NASDAQ:FUTU) last released its quarterly earnings results on Thursday, March 14th. The company reported $0.81 earnings per share for the quarter. Futu had a net margin of 42.77% and a return on equity of 18.46%. The company had revenue of $303.84 million during the quarter, compared to the consensus estimate of $374.14 million. On average, equities research analysts expect that Futu Holdings Limited will post 4.52 earnings per share for the current fiscal year.

Futu 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.