8,209 Shares in Futu Holdings Limited (NASDAQ:FUTU) Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd purchased a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,209 shares of the company’s stock, valued at approximately $784,000.

Several other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in Futu by 14.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock worth $11,245,000 after purchasing an additional 15,127 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Futu during the third quarter worth about $92,000. State of New Jersey Common Pension Fund D raised its holdings in Futu by 29.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 38,860 shares of the company’s stock worth $3,717,000 after purchasing an additional 8,800 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Futu during the third quarter worth about $346,000. Finally, Lifestyle Asset Management Inc. raised its holdings in Futu by 6.1% during the third quarter. Lifestyle Asset Management Inc. now owns 5,373 shares of the company’s stock worth $514,000 after purchasing an additional 307 shares in the last quarter.

Futu Trading Down 2.3 %

Shares of Futu stock opened at $88.68 on Friday. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $130.50. The stock has a market cap of $12.22 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 0.97 and a beta of 0.75. The company has a 50-day moving average of $88.82 and a two-hundred day moving average of $74.73.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The business had revenue of $400.73 million during the quarter. On average, sell-side analysts forecast that Futu Holdings Limited will post 4.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Bank of America increased their target price on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.97.

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.