Vestmark Advisory Solutions Inc. Buys Shares of 3,367 Futu Holdings Limited Sponsored ADR $FUTU

Vestmark Advisory Solutions Inc. purchased a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,367 shares of the company’s stock, valued at approximately $416,000.

A number of other hedge funds have also modified their holdings of the business. Atlas Capital Advisors Inc. purchased a new stake in Futu in the 1st quarter valued at approximately $26,000. Hantz Financial Services Inc. increased its position in Futu by 4,116.7% during the second quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock worth $31,000 after buying an additional 247 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Futu in the first quarter worth $27,000. First Horizon Advisors Inc. purchased a new stake in shares of Futu in the second quarter valued at $35,000. Finally, Allianz SE acquired a new stake in shares of Futu during the first quarter valued at $30,000.

Futu Price Performance

Shares of FUTU stock opened at $186.56 on Wednesday. The firm’s 50-day simple moving average is $177.34 and its 200-day simple moving average is $149.58. Futu Holdings Limited Sponsored ADR has a 1-year low of $70.60 and a 1-year high of $202.53. The firm has a market cap of $25.96 billion, a P/E ratio of 25.88, a PEG ratio of 0.67 and a beta of 0.49.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Daiwa America raised shares of Futu to a “strong-buy” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Citigroup raised their target price on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Finally, Bank of America boosted their price target on Futu from $172.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “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.