Ethic Inc. Has $1.05 Million Position in Futu Holdings Limited Sponsored ADR $FUTU

Ethic Inc. increased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 8.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,647 shares of the company’s stock after buying an additional 649 shares during the period. Ethic Inc.’s holdings in Futu were worth $1,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FUTU. Erste Asset Management GmbH acquired a new position in Futu during the first quarter valued at approximately $1,036,000. Charles Schwab Investment Management Inc. grew its holdings in Futu by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company’s stock valued at $6,901,000 after purchasing an additional 5,056 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Futu by 1,137.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company’s stock valued at $1,791,000 after purchasing an additional 16,086 shares during the last quarter. Swedbank AB grew its holdings in Futu by 729.5% during the second quarter. Swedbank AB now owns 50,600 shares of the company’s stock valued at $6,254,000 after purchasing an additional 44,500 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in Futu during the first quarter valued at approximately $16,112,000.

Wall Street Analyst Weigh In

FUTU has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a report on Saturday. Citigroup increased their price target on Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Daiwa America upgraded Futu to a “strong-buy” rating in a report on Tuesday, August 12th. Daiwa Capital Markets began coverage on shares of Futu in a research note on Monday, August 11th. They issued a “buy” rating and a $190.00 price objective on the stock. Finally, Zacks Research downgraded shares of Futu from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.43.

Futu Trading Up 4.5%

Shares of Futu stock opened at $178.38 on Monday. The company’s fifty day simple moving average is $176.20 and its 200-day simple moving average is $140.27. The company has a market cap of $24.82 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 0.78 and a beta of 0.48. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $199.86.

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.