E Fund Management Co. Ltd. Has $1.04 Million Stake in Futu Holdings Limited (NASDAQ:FUTU)

E Fund Management Co. Ltd. reduced its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 27.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,944 shares of the company’s stock after selling 7,310 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Futu were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Futu in the 4th quarter valued at approximately $44,000. Advisors Preferred LLC acquired a new stake in Futu during the 4th quarter worth about $53,000. Assetmark Inc. acquired a new stake in Futu in the third quarter worth $61,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Futu during the fourth quarter valued at approximately $148,000. Finally, Signaturefd LLC increased its position in shares of Futu by 12.2% during the third quarter. Signaturefd LLC now owns 2,615 shares of the company’s stock worth $151,000 after acquiring an additional 285 shares in the last quarter.

Futu Stock Down 2.9 %

Futu stock traded down $2.05 during mid-day trading on Wednesday, reaching $69.02. 1,844,410 shares of the stock traded hands, compared to its average volume of 1,537,552. Futu Holdings Limited has a 12-month low of $35.91 and a 12-month high of $75.25. The business’s 50-day moving average is $58.69 and its 200-day moving average is $54.90.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. CLSA upgraded shares of Futu from an “underperform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $65.00 in a research note on Monday, March 18th. JPMorgan Chase & Co. lowered shares of Futu from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $64.00 to $62.00 in a research report on Friday, March 15th. Finally, Citigroup lowered their price target on Futu from $76.90 to $75.30 and set a “buy” rating on the stock in a report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.83.

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.