AustralianSuper Pty Ltd Lowers Holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

AustralianSuper Pty Ltd cut its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 5.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 86,668 shares of the company's stock after selling 4,527 shares during the period. AustralianSuper Pty Ltd owned about 0.06% of Futu worth $8,870,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Futu by 77.3% during 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. Spire Wealth Management lifted its position in shares of Futu by 2,066.7% during the first quarter. Spire Wealth Management now owns 650 shares of the company's stock worth $67,000 after purchasing an additional 620 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Futu during the fourth quarter worth $60,000. Rakuten Securities Inc. increased 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 purchasing an additional 362 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Futu by 2,723.1% during the first 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 in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FUTU. Bank of America upped their price target 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. Barclays began coverage on shares of Futu in a research note on Thursday. They issued an "overweight" rating and a $176.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Futu has a consensus rating of "Moderate Buy" and a consensus target price of $139.32.

Futu Trading Up 7.0%

Shares of FUTU traded up $10.51 during trading hours on Friday, reaching $160.57. 6,478,908 shares of the stock traded hands, compared to its average volume of 3,014,487. The company's 50-day moving average price is $119.49 and its two-hundred day moving average price is $105.28. Futu Holdings Limited Sponsored ADR has a 52-week low of $51.80 and a 52-week high of $169.80. The company has a market cap of $22.34 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 1.27 and a beta of 0.60.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, topping 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 company had revenue of $603.43 million for the quarter, compared to the consensus estimate of $594.86 million. On average, research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

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.