IFM Investors Pty Ltd Makes New $606,000 Investment in Futu Holdings Limited (NASDAQ:FUTU)

IFM Investors Pty Ltd purchased a new stake in Futu Holdings Limited (NASDAQ:FUTU) during the first quarter, according to its most recent filing with the SEC. The firm purchased 11,192 shares of the company’s stock, valued at approximately $606,000.

Other large investors have also recently made changes to their positions in the company. IFP Advisors Inc purchased a new stake in shares of Futu during the 3rd quarter valued at $169,000. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd raised its stake in Futu by 266.6% in the third quarter. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd now owns 224,380 shares of the company’s stock valued at $12,971,000 after buying an additional 163,180 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Futu in the third quarter worth about $206,000. XR Securities LLC purchased a new stake in shares of Futu during the third quarter worth about $213,000. Finally, Advisor Partners II LLC purchased a new position in shares of Futu in the 3rd quarter valued at approximately $293,000.

Analysts Set New Price Targets

FUTU has been the topic of several research analyst reports. UBS Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Friday, January 5th. CLSA raised 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 research report on Monday, March 18th. Morgan Stanley raised Futu from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $40.00 to $50.00 in a report on Thursday, January 4th. JPMorgan Chase & Co. cut Futu from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $62.00 in a research note on Friday, March 15th. Finally, Citigroup dropped their target price on Futu from $76.90 to $75.30 and set a “buy” rating on the stock in a research report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.83.

Futu Stock Up 5.4 %

FUTU stock traded up $3.38 during trading on Friday, hitting $66.38. 3,064,293 shares of the company traded hands, compared to its average volume of 1,103,101. Futu Holdings Limited has a 1 year low of $35.91 and a 1 year high of $68.92. The stock’s 50-day simple moving average is $56.21 and its 200 day simple moving average is $54.51.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Thursday, March 14th. The company reported $0.81 earnings per share (EPS) for the quarter. The company had revenue of $303.84 million for the quarter, compared to the consensus estimate of $374.14 million. Futu had a return on equity of 18.46% and a net margin of 42.77%. As a group, sell-side analysts expect that Futu Holdings Limited will post 4.47 EPS for the current 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.