Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd decreased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,668 shares of the company's stock after selling 4,527 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.06% of Futu worth $8,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC bought a new position in Futu during the first quarter valued at approximately $42,610,000. Signaturefd LLC lifted its holdings in shares of Futu by 11.2% in the 1st quarter. Signaturefd LLC now owns 3,502 shares of the company's stock worth $358,000 after acquiring an additional 354 shares during the last quarter. Diversify Wealth Management LLC lifted its holdings in Futu by 18.0% during the 1st quarter. Diversify Wealth Management LLC now owns 7,159 shares of the company's stock valued at $733,000 after buying an additional 1,092 shares in the last quarter. LBP AM SA purchased a new position in Futu during the 1st quarter valued at about $3,480,000. Finally, Ninety One UK Ltd purchased a new position in shares of Futu in the 1st quarter worth approximately $42,903,000.

Futu Stock Performance

Shares of Futu stock traded up $8.01 on Wednesday, hitting $172.26. 2,347,795 shares of the company's stock were exchanged, compared to its average volume of 3,014,364. The company has a 50-day simple moving average of $119.49 and a 200-day simple moving average of $105.46. The stock has a market capitalization of $23.97 billion, a PE ratio of 28.75, a PEG ratio of 1.26 and a beta of 0.60. Futu Holdings Limited Sponsored ADR has a 1 year low of $51.80 and a 1 year high of $174.30.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FUTU shares. Barclays initiated coverage on shares of Futu in a report on Thursday, July 17th. They set an "overweight" rating and a $176.00 target price for the company. Bank of America boosted their target price on Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, Citigroup increased their target price on Futu from $113.00 to $176.00 and gave the stock a "neutral" rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $152.82.

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.