Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lessened its stake in Futu Holdings Limited (NASDAQ:FUTU) by 91.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 554 shares of the company’s stock after selling 5,586 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Futu were worth $30,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. BOCHK Asset Management Ltd acquired a new stake in shares of Futu in the 4th quarter valued at about $328,000. Hsbc Holdings PLC raised its stake in shares of Futu by 889.5% in the 4th quarter. Hsbc Holdings PLC now owns 175,458 shares of the company’s stock valued at $9,586,000 after purchasing an additional 197,683 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Futu in the 4th quarter valued at about $2,474,000. Norges Bank acquired a new stake in shares of Futu in the 4th quarter valued at about $11,472,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Futu in the 4th quarter valued at about $601,000.

Futu Trading Up 0.1 %

Shares of Futu stock traded up $0.07 on Friday, hitting $71.78. The company had a trading volume of 2,274,463 shares, compared to its average volume of 1,520,192. Futu Holdings Limited has a 52 week low of $35.91 and a 52 week high of $72.89. The business has a 50-day simple moving average of $57.89 and a 200-day simple moving average of $54.81.

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 analysts’ expectations of $374.14 million. Futu had a return on equity of 18.46% and a net margin of 42.77%. As a group, equities research analysts expect that Futu Holdings Limited will post 4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FUTU has been the topic of several research reports. UBS Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Friday, January 5th. CLSA upgraded shares of Futu from an “underperform” rating to an “outperform” rating and increased their price objective for the stock from $50.00 to $65.00 in a research note on Monday, March 18th. Citigroup dropped their price objective on shares of Futu from $76.90 to $75.30 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, JPMorgan Chase & Co. lowered shares of Futu from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $64.00 to $62.00 in a research note on Friday, March 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.83.

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.