JPMorgan Chase & Co. Sells 1,334,173 Shares of UP Fintech Holding Limited $TIGR

JPMorgan Chase & Co. lessened its stake in shares of UP Fintech Holding Limited (NASDAQ:TIGR) by 53.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,161,454 shares of the company’s stock after selling 1,334,173 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.63% of UP Fintech worth $12,393,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of UP Fintech during the 2nd quarter valued at $33,000. First Horizon Advisors Inc. bought a new position in UP Fintech in the second quarter valued at about $52,000. Bayforest Capital Ltd acquired a new stake in shares of UP Fintech during the third quarter valued at about $66,000. SBI Securities Co. Ltd. grew its holdings in shares of UP Fintech by 22.7% during the second quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company’s stock worth $62,000 after purchasing an additional 1,179 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of UP Fintech in the second quarter valued at approximately $103,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

UP Fintech Stock Down 3.8%

Shares of NASDAQ TIGR opened at $7.32 on Friday. The company has a market capitalization of $1.37 billion, a PE ratio of 8.82, a P/E/G ratio of 0.23 and a beta of 0.43. UP Fintech Holding Limited has a twelve month low of $6.38 and a twelve month high of $13.55. The firm has a fifty day simple moving average of $8.72 and a 200 day simple moving average of $9.68.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on TIGR. Citigroup lifted their target price on shares of UP Fintech to $17.50 and gave the stock a “buy” rating in a research report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of UP Fintech in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $4.73 price objective on shares of UP Fintech in a research note on Friday, December 5th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, UP Fintech has a consensus rating of “Moderate Buy” and an average target price 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.