California State Teachers Retirement System Lowers Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• California State Teachers Retirement System reduced its Futu stake by 16.7% in the second quarter, selling 10,874 shares and retaining 54,161 shares valued at approximately $5.1 million.
• Analyst sentiment is mixed but averages to a “Hold” rating; two analysts rate Futu a Buy and four rate it Hold, with an average price target of $139.91.
• Futu recently exceeded quarterly expectations, reporting $3.33 in EPS versus the $2.98 estimate and revenue of $852.66 million versus $786.07 million expected. Shares traded near $108.64, well below the 12-month high of $202.53.

California State Teachers Retirement System lowered its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 16.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,161 shares of the company's stock after selling 10,874 shares during the quarter. California State Teachers Retirement System's holdings in Futu were worth $5,077,052 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Futu in the first quarter worth $25,000. Rockefeller Capital Management L.P. lifted its position in Futu by 59.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Futu in the fourth quarter valued at approximately $49,000. Global Retirement Partners LLC increased its stake in shares of Futu by 84.8% in the 4th quarter. Global Retirement Partners LLC now owns 987 shares of the company's stock valued at $162,000 after purchasing an additional 453 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Futu by 58.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the company's stock worth $165,000 after purchasing an additional 443 shares during the last quarter.

Wall Street Analyst Weigh In

FUTU has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $87.00 target price (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $170.50 price objective on shares of Futu in a report on Thursday, May 28th. Wall Street Zen upgraded Futu from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Zacks Research upgraded shares of Futu from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Finally, The Goldman Sachs Group cut shares of Futu from a "buy" rating to a "neutral" rating and set a $102.13 price target on the stock. in a research report on Monday, May 25th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Futu has an average rating of "Hold" and an average target price of $139.91.

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Futu Price Performance

Shares of NASDAQ FUTU traded down $2.47 during mid-day trading on Tuesday, hitting $108.64. 364,158 shares of the stock traded hands, compared to its average volume of 2,206,411. The company has a market cap of $15.23 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.25 and a beta of 0.46. Futu Holdings Limited Sponsored ADR has a twelve month low of $80.50 and a twelve month high of $202.53. The firm has a 50 day simple moving average of $108.78 and a two-hundred day simple moving average of $122.35.

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The company reported $3.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.98 by $0.35. Futu had a return on equity of 28.20% and a net margin of 42.95%.The business had revenue of $852.66 million for the quarter, compared to analysts' expectations of $786.07 million. On average, equities research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 9.45 earnings per share for the current fiscal year.

Futu Profile

Futu Holdings Limited is a financial technology company that operates online brokerage and wealth-management platforms. Founded in 2012 and headquartered in Hong Kong, the company provides digital tools that allow individual investors to trade securities and manage investments through mobile and web applications.

Through its Futu and Moomoo platforms, the company offers access to products such as stocks, exchange-traded funds, options and futures, subject to the regulations of the relevant markets.

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