ASR Vermogensbeheer N.V. Reduces Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• ASR Vermogensbeheer N.V. has reduced its holdings in Futu Holdings by 41.6%, now owning 2,691 shares valued at approximately $332,000.
• Several institutional investors, including GAMMA Investing LLC and Wellington Management Group LLP, have recently adjusted their stakes in Futu, with GAMMA increasing its holdings by over 11,500%.
• Analysts have a generally positive outlook on Futu, with JPMorgan raising its price target from $200.00 to $270.00, and a consensus rating of "Moderate Buy" with a target price of $190.43.

ASR Vermogensbeheer N.V. lowered its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 41.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,691 shares of the company's stock after selling 1,917 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Futu were worth $332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of Futu during the 4th quarter valued at about $250,000. GAMMA Investing LLC boosted its stake in shares of Futu by 11,542.7% in the first quarter. GAMMA Investing LLC now owns 90,580 shares of the company's stock worth $9,271,000 after buying an additional 89,802 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Futu during the first quarter worth about $2,719,000. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd purchased a new position in Futu during the first quarter valued at approximately $2,047,000. Finally, Rakuten Securities Inc. lifted its holdings in Futu by 53.0% in the first quarter. Rakuten Securities Inc. now owns 1,045 shares of the company's stock valued at $107,000 after acquiring an additional 362 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FUTU shares. Dbs Bank raised shares of Futu to a "moderate buy" rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. raised their price target on shares of Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Daiwa Capital Markets started coverage on shares of Futu in a report on Monday, August 11th. They issued a "buy" rating and a $190.00 price objective for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Futu in a research report on Saturday, September 27th. Finally, Bank of America raised their target price on Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

Futu Stock Performance

NASDAQ FUTU opened at $169.98 on Monday. The stock's fifty day moving average is $174.07 and its two-hundred day moving average is $132.88. The firm has a market capitalization of $23.65 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 0.74 and a beta of 0.48. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $70.60 and a fifty-two week high of $199.86.

Futu 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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