Quantitative Investment Management LLC acquired a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,088 shares of the company’s stock, valued at approximately $1,039,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in shares of Futu during the first quarter worth about $25,000. Geneos Wealth Management Inc. acquired a new position in Futu in the 1st quarter valued at about $27,000. Rockefeller Capital Management L.P. increased its position in Futu by 59.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock valued at $37,000 after acquiring an additional 84 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Futu during the 4th quarter valued at approximately $49,000. Finally, Parkside Financial Bank & Trust raised its stake 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 acquiring an additional 300 shares during the last quarter.
Futu Stock Down 2.3%
NASDAQ FUTU opened at $119.28 on Wednesday. The stock has a market capitalization of $16.72 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.36 and a beta of 0.46. Futu Holdings Limited Sponsored ADR has a 52-week low of $80.50 and a 52-week high of $202.53. The firm has a 50-day moving average price of $105.12 and a 200 day moving average price of $124.37.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Zacks Research upgraded Futu from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Jefferies Financial Group restated a “buy” rating and set a $170.50 price target on shares of Futu in a research note on Thursday, May 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $87.00 price target (down from $300.00) on shares of Futu in a report on Friday, May 22nd. Wall Street Zen raised Futu from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, The Goldman Sachs Group lowered shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 price objective on the stock. in a research report on Monday, May 25th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Futu currently has an average rating of “Hold” and an average price target of $139.91.
Get Our Latest Analysis on 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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