11,088 Shares in Futu Holdings Limited Sponsored ADR $FUTU Acquired by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC acquired 11,088 shares of Futu Holdings, valued at approximately $1.04 million, establishing a new position during the second quarter.
• Futu reported quarterly EPS of $3.33, exceeding the $2.98 analyst consensus, while revenue of $852.66 million also surpassed expectations of $786.07 million.
• Analyst sentiment remains cautious: Futu has an average rating of “Hold” and a consensus price target of $139.91, despite its shares opening at $119.28 and trading between $80.50 and $202.53 over the past year.

Quantitative Investment Management LLC purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,088 shares of the company's stock, valued at approximately $1,039,000.

A number of other large investors also recently modified their holdings of the company. Trivest Advisors Ltd raised its stake in Futu by 2.5% in the fourth quarter. Trivest Advisors Ltd now owns 540,000 shares of the company's stock valued at $88,673,000 after buying an additional 13,200 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Futu by 3,105.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 60,900 shares of the company's stock worth $10,000,000 after acquiring an additional 59,000 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Futu by 7.2% in the 1st quarter. Hsbc Holdings PLC now owns 332,501 shares of the company's stock valued at $45,448,000 after acquiring an additional 22,469 shares during the last quarter. Norges Bank purchased a new position in shares of Futu in the 4th quarter valued at about $21,508,000. Finally, Jennison Associates LLC raised its position in shares of Futu by 31.1% during the 1st quarter. Jennison Associates LLC now owns 211,509 shares of the company's stock worth $28,926,000 after acquiring an additional 50,229 shares in the last quarter.

Futu Stock Performance

FUTU opened at $119.28 on Wednesday. The business's 50-day simple moving average is $105.12 and its 200-day simple moving average is $124.37. Futu Holdings Limited Sponsored ADR has a one year low of $80.50 and a one year high of $202.53. The stock has a market capitalization of $16.72 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.36 and a beta of 0.46.

• Futu Holdings NASDAQ: FUTU Stock: Is the Chinese Fintech Company a Buy?

Futu (NASDAQ:FUTU - Get Free Report) last announced its earnings results on Thursday, August 20th. The company reported $3.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.98 by $0.35. The firm had revenue of $852.66 million during the quarter, compared to analysts' expectations of $786.07 million. Futu had a return on equity of 28.20% and a net margin of 42.95%. On average, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 9.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FUTU. The Goldman Sachs Group cut 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. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $87.00 price target (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. Wall Street Zen raised shares of Futu from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Jefferies Financial Group restated a "buy" rating and set a $170.50 price objective on shares of Futu in a research report on Thursday, May 28th. Finally, Zacks Research upgraded shares of Futu from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Futu currently has an average rating of "Hold" and a consensus target price of $139.91.

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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