OVERSEA CHINESE BANKING Corp Ltd Sells 57,557 Shares of Futu Holdings Limited Sponsored ADR $FUTU

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 83.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,557 shares of the company’s stock after selling 57,557 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Futu were worth $2,009,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FUTU. Asset Management One Co. Ltd. grew its position in shares of Futu by 0.4% during the 2nd quarter. Asset Management One Co. Ltd. now owns 22,219 shares of the company’s stock worth $2,746,000 after purchasing an additional 94 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of Futu by 2.7% in the second quarter. Ensign Peak Advisors Inc now owns 3,800 shares of the company’s stock valued at $470,000 after buying an additional 100 shares during the period. Cerity Partners LLC grew its position in Futu by 4.6% during the second quarter. Cerity Partners LLC now owns 2,729 shares of the company’s stock worth $337,000 after buying an additional 120 shares in the last quarter. GAMMA Investing LLC increased its stake in Futu by 15.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,026 shares of the company’s stock worth $127,000 after acquiring an additional 141 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings in Futu by 15.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the company’s stock valued at $144,000 after acquiring an additional 155 shares in the last quarter.

Futu Stock Performance

NASDAQ:FUTU opened at $176.50 on Friday. Futu Holdings Limited Sponsored ADR has a 52 week low of $70.60 and a 52 week high of $202.53. The firm’s fifty day moving average is $171.36 and its 200-day moving average is $169.04. The firm has a market cap of $24.56 billion, a P/E ratio of 19.76, a P/E/G ratio of 0.51 and a beta of 0.20.

Futu (NASDAQ:FUTU) last released its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.39. Futu had a net margin of 47.11% and a return on equity of 30.59%. The business had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. As a group, sell-side analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Wall Street Analyst Weigh In

FUTU has been the topic of several recent analyst reports. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. Finally, Barclays increased their price objective on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $203.67.

Futu Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.