Renaissance Technologies LLC reduced its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU – Free Report) by 11.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 671,026 shares of the company’s stock after selling 86,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Futu were worth $91,770,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Futu in the 1st quarter valued at $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Futu during the 1st quarter worth about $27,000. Rockefeller Capital Management L.P. increased its position in shares of Futu by 59.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in Futu during the 4th quarter valued at about $49,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Futu by 30,000.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 301 shares of the company’s stock valued at $49,000 after purchasing an additional 300 shares during the last quarter.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Wall Street Zen cut shares of Futu from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $87.00 target price (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. The Goldman Sachs Group cut shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price for the company. in a research note on Monday, May 25th. Jefferies Financial Group restated a “buy” rating and set a $170.50 price target on shares of Futu in a research report on Thursday, May 28th. Finally, Zacks Research cut Futu from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.80.
Futu Trading Up 0.4%
FUTU opened at $99.36 on Friday. Futu Holdings Limited Sponsored ADR has a 1-year low of $80.50 and a 1-year high of $202.53. The stock has a market capitalization of $13.93 billion, a PE ratio of 10.93, a PEG ratio of 1.17 and a beta of 0.39. The firm has a 50-day moving average price of $100.01 and a two-hundred day moving average price of $135.27.
Futu (NASDAQ:FUTU – Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). Futu had a return on equity of 26.48% and a net margin of 41.87%.The company had revenue of $694.17 million for the quarter, compared to analyst estimates of $761.35 million. On average, research analysts predict that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current year.
More Futu News
Here are the key news stories impacting Futu this week:
- Negative Sentiment: Multiple firms reiterated that a securities fraud class action has been filed against Futu and are actively soliciting investors with losses to join the case or seek lead-plaintiff status before the August 25 deadline.
- Negative Sentiment: One notice specifically alleges the lawsuit involves concealed regulatory penalties, which could be interpreted by investors as a sign of heightened compliance and legal risk. Article: FUTU Shareholder Alert
- Neutral Sentiment: Another article from Zacks was a valuation comparison of Futu versus Orix, which is more informational than market-moving and does not appear to be the main driver of trading today. Article: IX vs. FUTU
Futu Company 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.
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Want to see what other hedge funds are holding FUTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU – Free Report).
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