Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,500 shares of the company’s stock, valued at approximately $1,734,000.
Other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Futu during the first quarter valued at $25,000. Geneos Wealth Management Inc. acquired a new stake in Futu in the first quarter worth about $27,000. Rockefeller Capital Management L.P. grew 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 buying an additional 84 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in Futu during the 4th quarter valued at about $49,000. Finally, Parkside Financial Bank & Trust increased 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 buying an additional 300 shares during the period.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on FUTU. Zacks Research raised shares of Futu from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $87.00 target price (down from $300.00) on shares of Futu in a report on Friday, May 22nd. The Goldman Sachs Group lowered Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target for the company. in a research note on Monday, May 25th. Wall Street Zen upgraded Futu from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $170.50 price objective on shares of Futu in a research note on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $139.91.
Futu Price Performance
Shares of FUTU opened at $124.26 on Friday. The firm’s 50 day moving average is $104.25 and its 200-day moving average is $125.10. Futu Holdings Limited Sponsored ADR has a 12-month low of $80.50 and a 12-month high of $202.53. The stock has a market capitalization of $17.42 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.39 and a beta of 0.43.
Futu (NASDAQ:FUTU – Get Free Report) last released its earnings results on Thursday, August 20th. The company reported $3.33 EPS for the quarter, beating the consensus estimate of $2.98 by $0.35. The business had revenue of $852.66 million during the quarter, compared to analyst estimates of $786.07 million. Futu had a net margin of 42.95% and a return on equity of 28.20%. As a group, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 9.44 EPS for the current fiscal year.
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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