Harbour Capital Advisors LLC Takes $356,000 Position in Futu Holdings Limited (NASDAQ:FUTU)

Harbour Capital Advisors LLC acquired a new stake in Futu Holdings Limited (NASDAQ:FUTU) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,720 shares of the company’s stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FUTU. Lifestyle Asset Management Inc. acquired a new position in Futu during the first quarter worth approximately $246,000. Sequoia Financial Advisors LLC increased its position in Futu by 6.5% during the first quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after buying an additional 269 shares during the period. BNP Paribas Financial Markets increased its position in Futu by 6.7% during the first quarter. BNP Paribas Financial Markets now owns 100,616 shares of the company’s stock worth $5,448,000 after buying an additional 6,317 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Futu by 24.2% in the first quarter. Janney Montgomery Scott LLC now owns 10,318 shares of the company’s stock valued at $559,000 after purchasing an additional 2,011 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Futu by 8.6% in the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock valued at $206,000 after purchasing an additional 300 shares during the period.

Futu Stock Performance

FUTU opened at $93.26 on Friday. The business’s fifty day moving average is $76.57 and its two-hundred day moving average is $69.96. The company has a market cap of $12.85 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.65 and a beta of 0.74. Futu Holdings Limited has a one year low of $43.61 and a one year high of $130.50.

Futu (NASDAQ:FUTU) last posted its earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The company had revenue of $400.73 million for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. On average, analysts predict that Futu Holdings Limited will post 4.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America boosted their target price on 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.97.

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.