Headwater Capital Co Ltd Purchases Shares of 100,000 Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Key Points

• Headwater Capital Co Ltd acquired 100,000 shares of Futu Holdings Limited, valued at approximately $10.2 million, making it the company's 6th biggest position.
• Several institutions increased their stakes in Futu, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd, which raised its stake by 77.3% during the fourth quarter.
• Wall Street analysts have given Futu a consensus price target of $152.82, with a majority rating it as a "Moderate Buy" and increasing target prices from prominent firms like Citigroup and Bank of America.

Headwater Capital Co Ltd purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 100,000 shares of the company's stock, valued at approximately $10,235,000. Futu accounts for 4.6% of Headwater Capital Co Ltd's investment portfolio, making the stock its 6th biggest position. Headwater Capital Co Ltd owned approximately 0.07% of Futu as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Trivest Advisors Ltd acquired a new position in shares of Futu during the 1st quarter worth about $98,651,000. Federated Hermes Inc. boosted its holdings in Futu by 118.7% in the first quarter. Federated Hermes Inc. now owns 7,101 shares of the company's stock valued at $727,000 after purchasing an additional 3,854 shares in the last quarter. Dauntless Investment Group LLC purchased a new position in Futu in the first quarter valued at approximately $313,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Futu by 1.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,000 shares of the company's stock worth $2,047,000 after purchasing an additional 220 shares in the last quarter. Finally, ARK Investment Management LLC purchased a new stake in shares of Futu during the 1st quarter worth approximately $12,687,000.

Futu Stock Up 6.5%

FUTU stock traded up $9.26 on Monday, reaching $150.93. 2,210,411 shares of the company's stock were exchanged, compared to its average volume of 2,725,043. The stock has a fifty day moving average of $129.25 and a 200-day moving average of $111.08. The firm has a market cap of $21.00 billion, a PE ratio of 25.16, a P/E/G ratio of 1.12 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a twelve month low of $51.80 and a twelve month high of $174.36.

Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.95 by $0.01. The firm had revenue of $603.43 million during the quarter, compared to analysts' expectations of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. On average, equities research analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FUTU shares. Bank of America lifted their price target on shares of Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Barclays initiated coverage on Futu in a research report on Thursday, July 17th. They set an "overweight" rating and a $176.00 target price on the stock. Finally, Citigroup raised their price target on Futu from $113.00 to $176.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.82.

About Futu

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.