KLP Kapitalforvaltning AS Raises Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

KLP Kapitalforvaltning AS grew its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 3.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,500 shares of the company’s stock after buying an additional 800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Futu were worth $3,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FUTU. Atlas Capital Advisors Inc. purchased a new position in shares of Futu in the 1st quarter worth $26,000. Geneos Wealth Management Inc. purchased a new position in shares of Futu in the 1st quarter worth $27,000. Allianz SE bought a new stake in shares of Futu in the 1st quarter worth about $30,000. SVB Wealth LLC bought a new stake in shares of Futu in the 1st quarter worth about $40,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Futu by 38.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 616 shares of the company’s stock worth $64,000 after acquiring an additional 172 shares during the last quarter.

Futu Price Performance

FUTU stock opened at $154.60 on Friday. The company has a market capitalization of $21.51 billion, a PE ratio of 21.44, a P/E/G ratio of 0.68 and a beta of 0.48. Futu Holdings Limited Sponsored ADR has a 12 month low of $70.60 and a 12 month high of $199.86. The firm’s 50-day moving average is $175.81 and its 200 day moving average is $134.89.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Futu from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Barclays raised their target price on shares of Futu from $176.00 to $232.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Dbs Bank upgraded shares of Futu to a “moderate buy” rating in a report on Thursday, September 4th. Daiwa Capital Markets assumed coverage on shares of Futu in a report on Monday, August 11th. They issued a “buy” rating and a $190.00 target price for the company. Finally, Daiwa America upgraded shares of Futu to a “strong-buy” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.43.

Futu Company Profile

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.