Valliance Asset Management Ltd acquired a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the company's stock, valued at approximately $956,000. Futu comprises 1.2% of Valliance Asset Management Ltd's portfolio, making the stock its 6th largest holding.

Several other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP grew its stake in Futu by 71.5% during the 2nd quarter. Marshall Wace LLP now owns 1,521,314 shares of the company's stock worth $99,813,000 after buying an additional 634,369 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in Futu during the second quarter valued at $31,490,000. Veritas Asset Management LLP acquired a new stake in Futu in the 3rd quarter worth about $39,547,000. Yong Rong HK Asset Management Ltd boosted its stake in shares of Futu by 2,525.3% in the third quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company's stock worth $37,667,000 after acquiring an additional 378,800 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Futu by 3,253,333.3% during the second quarter. National Bank of Canada FI now owns 292,809 shares of the company's stock worth $18,790,000 after buying an additional 292,800 shares in the last quarter.

Shares of Futu stock opened at $108.66 on Friday. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 1.01 and a beta of 0.75. The business has a 50-day moving average of $85.21 and a 200 day moving average of $73.49. Futu Holdings Limited has a 12 month low of $43.61 and a 12 month high of $130.50.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The company had revenue of $400.73 million for the quarter. Equities research analysts anticipate that Futu Holdings Limited will post 4.75 earnings per share for the current year.

Separately, Bank of America lifted their price target on Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.97.

Check Out Our Latest Research Report on 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.

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