Rakuten Securities Inc. Boosts Holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Rakuten Securities Inc. grew its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 53.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,045 shares of the company’s stock after buying an additional 362 shares during the quarter. Rakuten Securities Inc.’s holdings in Futu were worth $107,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in Futu by 2.0% in the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company’s stock valued at $358,000 after acquiring an additional 87 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Futu by 1.2% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company’s stock worth $746,000 after purchasing an additional 113 shares during the period. Rhumbline Advisers grew its stake in shares of Futu by 0.6% during the 4th quarter. Rhumbline Advisers now owns 23,023 shares of the company’s stock worth $1,842,000 after purchasing an additional 144 shares during the period. Vestcor Inc increased its holdings in shares of Futu by 19.2% in the 4th quarter. Vestcor Inc now owns 907 shares of the company’s stock valued at $73,000 after purchasing an additional 146 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of Futu by 1.6% in the fourth quarter. Voya Investment Management LLC now owns 9,549 shares of the company’s stock valued at $764,000 after purchasing an additional 153 shares during the period.

Analyst Ratings Changes

Several research analysts have weighed in on FUTU shares. Bank of America upped their target price on shares of Futu from $123.70 to $143.90 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. UBS Group upped their price target on Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. raised their price objective on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.98.

Futu Trading Down 1.5%

Shares of NASDAQ FUTU opened at $121.69 on Wednesday. The company’s 50-day moving average price is $100.59 and its 200 day moving average price is $98.05. Futu Holdings Limited Sponsored ADR has a 52 week low of $51.80 and a 52 week high of $130.88. The stock has a market cap of $16.93 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 0.98 and a beta of 0.58.

Futu (NASDAQ:FUTU) last released its quarterly earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.95 by $0.01. Futu had a net margin of 41.74% and a return on equity of 23.07%. The business had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. As a group, research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

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.