ASR Vermogensbeheer N.V. Acquires New Stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Key Points

• ASR Vermogensbeheer N.V. acquired 4,608 shares of Futu Holdings Limited during the first quarter, valued at approximately $472,000.
• Futu Holdings reported a quarterly earnings per share (EPS) of $1.96, exceeding analyst estimates by $0.01 and generating a revenue of $603.43 million.
• Analysts have upgraded their ratings on Futu, with Bank of America raising the price target from $123.70 to $143.90 and Citigroup increasing it to $176.00.

ASR Vermogensbeheer N.V. bought a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,608 shares of the company's stock, valued at approximately $472,000.

Other institutional investors also recently bought and sold shares of the company. Allianz SE purchased a new stake in Futu in the 1st quarter worth approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 buying an additional 197 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Futu in the 4th quarter worth approximately $60,000. Spire Wealth Management lifted its holdings in 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 buying an additional 620 shares during the period. Finally, Rakuten Securities Inc. lifted its holdings in 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 buying an additional 362 shares during the period.

Futu Stock Performance

Shares of FUTU traded down $1.61 on Thursday, reaching $174.88. The stock had a trading volume of 1,600,358 shares, compared to its average volume of 2,684,146. The firm has a market capitalization of $24.33 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 1.02 and a beta of 0.49. The company has a 50-day simple moving average of $137.73 and a 200-day simple moving average of $114.61. Futu Holdings Limited Sponsored ADR has a 12-month low of $56.22 and a 12-month high of $179.17.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on FUTU. Bank of America increased their price objective on Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Daiwa America upgraded Futu to a "strong-buy" rating in a report on Tuesday. Daiwa Capital Markets started coverage on Futu in a report on Monday. They issued a "buy" rating and a $190.00 price objective for the company. Barclays started coverage on Futu in a research report on Thursday, July 17th. They issued an "overweight" rating and a $176.00 target price for the company. Finally, Citigroup raised their target price on Futu from $113.00 to $176.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $158.13.

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.