Caisse DE Depot ET Placement DU Quebec Sells 17,734 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Caisse DE Depot ET Placement DU Quebec has reduced its stake in Futu Holdings by 24.1%, selling 17,734 shares to hold a total of 55,990 shares worth $5,731,000 at the end of the last quarter.
• Several hedge funds have increased their positions in Futu, with Yong Rong HK Asset Management Ltd investing $77.17 million and Trivest Advisors Ltd contributing $98.65 million during the same period.
• Futu Holdings reported earnings of $1.96 per share, beating estimates, and received upgraded price targets from various analysts, with JPMorgan increasing its target from $200 to $270.

Caisse DE Depot ET Placement DU Quebec reduced its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 24.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,990 shares of the company's stock after selling 17,734 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Futu were worth $5,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FUTU. Atlas Capital Advisors Inc. purchased a new position in shares of Futu in the 1st quarter worth $26,000. Allianz SE purchased a new position in Futu during the first quarter valued at $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 purchasing an additional 197 shares in the last quarter. SVB Wealth LLC purchased a new position in Futu during the first quarter valued at $40,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Futu during the fourth quarter valued at $60,000.

Futu Stock Performance

Shares of Futu stock traded down $0.51 during trading hours on Monday, hitting $185.60. The company's stock had a trading volume of 2,312,874 shares, compared to its average volume of 2,338,197. The business has a 50 day moving average price of $153.85 and a two-hundred day moving average price of $121.51. Futu Holdings Limited Sponsored ADR has a 12-month low of $56.22 and a 12-month high of $197.35. The company has a market cap of $25.82 billion, a PE ratio of 25.74, a PEG ratio of 0.82 and a beta of 0.57.

Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.95 by $0.01. Futu had a return on equity of 26.36% and a net margin of 44.25%.The business had revenue of $603.43 million for the quarter, compared to the consensus estimate of $594.86 million. As a group, research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FUTU. JPMorgan Chase & Co. lifted their target price on Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday. Citigroup lifted their target price on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Daiwa Capital Markets began coverage on Futu in a research report on Monday, August 11th. They set a "buy" rating and a $190.00 target price on the stock. Barclays lifted their target price on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Finally, Bank of America lifted 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 research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $190.43.

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.