3,061 Shares in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Bought by Dauntless Investment Group LLC

Key Points

• Dauntless Investment Group LLC acquired 3,061 shares of Futu Holdings Limited (NASDAQ:FUTU), valued at approximately $313,000, making it the firm's 29th largest holding.
• Futu reported quarterly earnings of $1.96 per share, slightly exceeding estimates, with revenue of $603.43 million compared to an expected $594.86 million.
• Analysts have a consensus price target of $152.82 for Futu, with several firms recently upgrading their ratings and target prices on the stock.

Dauntless Investment Group LLC purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,061 shares of the company's stock, valued at approximately $313,000. Futu accounts for 0.4% of Dauntless Investment Group LLC's investment portfolio, making the stock its 29th largest holding.

Other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Futu by 77.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock worth $36,000 after acquiring an additional 197 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Futu in the 4th quarter worth $60,000. Spire Wealth Management lifted its stake in shares of Futu by 2,066.7% in the 1st quarter. Spire Wealth Management now owns 650 shares of the company's stock worth $67,000 after acquiring an additional 620 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Futu by 53.0% in the 1st quarter. Rakuten Securities Inc. now owns 1,045 shares of the company's stock worth $107,000 after acquiring an additional 362 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Futu by 2,723.1% in the 1st quarter. Versant Capital Management Inc now owns 1,101 shares of the company's stock worth $113,000 after acquiring an additional 1,062 shares during the period.

Futu Trading Down 0.6%

NASDAQ:FUTU opened at $162.67 on Tuesday. The firm has a 50-day moving average price of $126.07 and a two-hundred day moving average price of $109.06. Futu Holdings Limited Sponsored ADR has a twelve month low of $51.80 and a twelve month high of $174.36. The company has a market capitalization of $22.63 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 1.29 and a beta of 0.60.

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

Wall Street Analysts Forecast Growth

FUTU has been the subject of several recent analyst reports. Barclays started coverage on shares of Futu in a research note on Thursday, July 17th. They issued an "overweight" rating and a $176.00 target price for the company. Citigroup raised their price objective on shares of Futu from $113.00 to $176.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Bank of America raised their price objective on shares of Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $152.82.

Futu Company 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.

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