Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft reduced its holdings in Futu Holdings Limited by 85.0%, now owning just 2,290 shares valued at $281,000 after selling 12,960 shares in the second quarter.
• In the first quarter, several hedge funds, notably Hhlr Advisors LTD and UBS AM, significantly increased their stakes in Futu, with Hhlr Advisors growing their holdings by 285.2%.
• Research analysts have a generally positive outlook on Futu, with Citigroup and Bank of America raising their target prices for the stock to $190.00 and $200.00, respectively, and giving it "neutral" and "buy" ratings.

Baader Bank Aktiengesellschaft lessened its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 85.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,290 shares of the company's stock after selling 12,960 shares during the period. Baader Bank Aktiengesellschaft's holdings in Futu were worth $281,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atlas Capital Advisors Inc. acquired a new position in Futu during the first quarter worth $26,000. Geneos Wealth Management Inc. acquired a new position in Futu during the first quarter worth $27,000. Allianz SE acquired a new position in Futu during the first quarter worth $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Futu by 77.3% during the fourth 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. Finally, SVB Wealth LLC acquired a new position in Futu during the first quarter worth $40,000.

Futu Stock Performance

Shares of FUTU stock traded up $4.07 during trading hours on Friday, reaching $177.99. The company had a trading volume of 2,123,243 shares, compared to its average volume of 2,038,337. Futu Holdings Limited Sponsored ADR has a twelve month low of $65.18 and a twelve month high of $199.86. The company has a market capitalization of $24.77 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 0.79 and a beta of 0.57. The stock's fifty day simple moving average is $171.02 and its 200 day simple moving average is $128.60.

Analysts Set New Price Targets

Several analysts have weighed in on FUTU shares. JPMorgan Chase & Co. upped their target price on Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Citigroup upped their target price on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Bank of America upped their target price on Futu from $172.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Dbs Bank raised Futu to a "moderate buy" rating in a report on Thursday, September 4th. Finally, Barclays upped their target price on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Futu has a consensus rating of "Buy" and an average target price of $190.43.

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.