Bailard Inc. Trims Stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Bailard Inc. lowered its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,000 shares of the company's stock after selling 5,000 shares during the quarter. Bailard Inc.'s holdings in Futu were worth $2,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after acquiring an additional 197 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Futu in the 4th quarter worth $60,000. Spire Wealth Management lifted its position in shares of 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 purchasing an additional 620 shares during the period. Rakuten Securities Inc. boosted its stake in shares of Futu by 53.0% during the 1st quarter. Rakuten Securities Inc. now owns 1,045 shares of the company's stock valued at $107,000 after purchasing an additional 362 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Futu by 2,723.1% in the first quarter. Versant Capital Management Inc now owns 1,101 shares of the company's stock worth $113,000 after buying an additional 1,062 shares in the last quarter.

Futu Trading Up 7.0%

NASDAQ FUTU traded up $10.51 on Friday, reaching $160.57. 6,478,908 shares of the stock were exchanged, compared to its average volume of 3,014,487. The firm has a market capitalization of $22.34 billion, a PE ratio of 26.76, a PEG ratio of 1.27 and a beta of 0.60. Futu Holdings Limited Sponsored ADR has a one year low of $51.80 and a one year high of $169.80. The company's 50-day simple moving average is $119.49 and its two-hundred day simple moving average is $105.28.

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 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 for the quarter, compared to analysts' expectations of $594.86 million. Sell-side analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FUTU. Bank of America lifted their target price on shares of Futu from $123.70 to $143.90 and gave the company a "buy" rating in a report on Wednesday, June 11th. Barclays assumed coverage on shares of Futu in a research report on Thursday. They set an "overweight" rating and a $176.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Futu currently has a consensus rating of "Moderate Buy" and an average price target of $139.32.

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.