William Blair Investment Management LLC Takes Position in UP Fintech Holding Limited $TIGR

William Blair Investment Management LLC acquired a new position in shares of UP Fintech Holding Limited (NASDAQ:TIGR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 355,392 shares of the company’s stock, valued at approximately $3,792,000. William Blair Investment Management LLC owned 0.19% of UP Fintech at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its stake in UP Fintech by 282.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,247,099 shares of the company’s stock valued at $31,335,000 after acquiring an additional 2,397,261 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of UP Fintech during the 2nd quarter worth approximately $24,456,000. Bank of America Corp DE raised its holdings in shares of UP Fintech by 122.6% in the second quarter. Bank of America Corp DE now owns 2,282,337 shares of the company’s stock valued at $22,025,000 after purchasing an additional 1,257,251 shares during the last quarter. Jump Financial LLC bought a new stake in shares of UP Fintech in the second quarter worth $12,993,000. Finally, Canada Pension Plan Investment Board boosted its holdings in UP Fintech by 15.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,274,250 shares of the company’s stock worth $12,297,000 after purchasing an additional 172,200 shares during the last quarter. 9.03% of the stock is currently owned by institutional investors.

UP Fintech Price Performance

Shares of TIGR opened at $7.41 on Wednesday. The company has a market cap of $1.38 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The firm has a 50-day moving average of $8.78 and a 200-day moving average of $9.71. UP Fintech Holding Limited has a one year low of $6.38 and a one year high of $13.55.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Thursday, December 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. UP Fintech had a net margin of 27.42% and a return on equity of 21.09%. The company had revenue of $175.16 million for the quarter, compared to analysts’ expectations of $132.76 million. During the same period in the prior year, the firm earned $0.11 EPS.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $4.73 target price on shares of UP Fintech in a research report on Friday, December 5th. Citigroup increased their price objective on shares of UP Fintech to $17.50 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UP Fintech in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, UP Fintech currently has an average rating of “Moderate Buy” and an average price target of $11.83.

About UP Fintech

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.