SG Americas Securities LLC Purchases 38,732 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Posted by on Apr 24th, 2023

SG Americas Securities LLC increased its position in Futu Holdings Limited (NASDAQ:FUTU – Get Rating) by 262.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,474 shares of the company’s stock after purchasing an additional 38,732 shares during the period. SG Americas Securities LLC’s holdings in Futu were worth $2,174,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Forsta AP Fonden lifted its stake in Futu by 6.6% during the 4th quarter. Forsta AP Fonden now owns 14,600 shares of the company’s stock valued at $593,000 after acquiring an additional 900 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in Futu during the 4th quarter valued at about $225,000. DekaBank Deutsche Girozentrale lifted its stake in Futu by 19.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 6,264 shares of the company’s stock valued at $287,000 after acquiring an additional 1,007 shares during the period. Yong Rong HK Asset Management Ltd bought a new position in Futu during the 4th quarter valued at about $610,000. Finally, Quaero Capital S.A. bought a new position in Futu during the 4th quarter valued at about $1,952,000. Institutional investors own 19.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FUTU. CLSA cut shares of Futu from a “buy” rating to a “reduce” rating and set a $43.00 target price on the stock. in a research note on Tuesday, January 3rd. Bank of America cut shares of Futu from a “buy” rating to an “underperform” rating and lowered their target price for the company from $59.60 to $27.00 in a research note on Friday, December 30th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.52.

Futu Trading Down 1.6 %

Futu stock opened at $46.26 on Monday. The firm has a 50 day moving average of $48.04 and a 200 day moving average of $49.02. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 7.18 and a beta of 0.79. Futu Holdings Limited has a 12-month low of $26.84 and a 12-month high of $72.20.

About Futu

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Futu Holdings Ltd. is an advanced technology company, which engages in online brokerage and wealth management services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The firm’s fee-generating services include trade execution, as well as margin financing and securities lending, which allow its clients to trade securities, such as stocks, ETFs, warrants, options and futures, across different markets.

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Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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