Rakuten Investment Management Inc. Takes Position in Futu Holdings Limited Sponsored ADR $FUTU

Rakuten Investment Management Inc. bought a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 111,667 shares of the company’s stock, valued at approximately $19,420,000. Rakuten Investment Management Inc. owned 0.08% of Futu at the end of the most recent quarter.

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

Futu Stock Down 0.7%

NASDAQ:FUTU opened at $170.63 on Wednesday. The business’s 50-day simple moving average is $170.45 and its two-hundred day simple moving average is $170.76. Futu Holdings Limited Sponsored ADR has a 52 week low of $70.60 and a 52 week high of $202.53. The stock has a market cap of $23.74 billion, a PE ratio of 19.11, a P/E/G ratio of 0.50 and a beta of 0.20.

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

Wall Street Analysts Forecast Growth

FUTU has been the subject of a number of research reports. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Barclays lifted their target price on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target 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.