JPMorgan Chase & Co. Has $12.39 Million Stake in 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 its most recent filing with the Securities & Exchange Commission. The firm owned 1,161,454 shares of the company’s stock after selling 1,334,173 shares during the period. JPMorgan Chase & Co.’s holdings in UP Fintech were worth $12,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TIGR. Arrowstreet Capital Limited Partnership increased its stake in UP Fintech by 282.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,247,099 shares of the company’s stock valued at $31,335,000 after purchasing an additional 2,397,261 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of UP Fintech in the 2nd quarter valued at about $12,993,000. Jupiter Asset Management Ltd. bought a new stake in UP Fintech in the 2nd quarter valued at about $24,456,000. Envestnet Asset Management Inc. raised its stake in UP Fintech by 21.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 218,480 shares of the company’s stock worth $2,108,000 after buying an additional 38,148 shares during the period. Finally, Quinn Opportunity Partners LLC raised its stake in UP Fintech by 9.3% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 628,921 shares of the company’s stock worth $6,069,000 after buying an additional 53,409 shares during the period. 9.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. 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. Weiss Ratings reissued a “hold (c)” rating on shares of UP Fintech in a research report on Wednesday, January 21st. Finally, Citigroup upped their price objective on shares of UP Fintech to $17.50 and gave the stock a “buy” rating in a report on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.83.

UP Fintech Stock Down 3.8%

Shares of NASDAQ:TIGR opened at $7.32 on Friday. The business’s 50 day moving average is $8.72 and its 200 day moving average is $9.68. UP Fintech Holding Limited has a 12-month low of $6.38 and a 12-month high of $13.55. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.23 and a beta of 0.43.

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

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.