Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by Aviva PLC

Aviva PLC lessened its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 8.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 116,186 shares of the company’s stock after selling 11,094 shares during the quarter. Aviva PLC’s holdings in Futu were worth $14,359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Yunqi Capital Ltd bought a new position in Futu in the 2nd quarter worth about $16,067,000. Fox Run Management L.L.C. bought a new position in Futu in the 2nd quarter worth approximately $388,000. Vestmark Advisory Solutions Inc. acquired a new stake in Futu in the 2nd quarter valued at approximately $416,000. Achmea Investment Management B.V. raised its stake in Futu by 220.7% during the 2nd quarter. Achmea Investment Management B.V. now owns 69,634 shares of the company’s stock valued at $8,605,000 after acquiring an additional 47,918 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its position in Futu by 29.8% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 20,264 shares of the company’s stock worth $2,499,000 after acquiring an additional 4,650 shares during the period.

Wall Street Analyst Weigh In

FUTU has been the topic of a number of research analyst reports. Citigroup raised their price target on Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Bank of America raised their target price on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research note on Wednesday, October 8th. Daiwa Capital Markets assumed coverage on shares of Futu in a research note on Monday, August 11th. They set a “buy” rating and a $190.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $190.43.

Futu Stock Performance

Futu stock opened at $186.56 on Wednesday. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 0.67 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53. The firm’s 50 day moving average price is $177.34 and its two-hundred day moving average price is $149.58.

Futu 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.