Candriam S.C.A. Reduces Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Candriam S.C.A. has reduced its stake in Futu Holdings by 35%, now holding approximately 227,392 shares valued at $23.27 million.
• Futu Holdings reported earnings of $1.96 per share for the last quarter, exceeding analysts' expectations of $1.95, with a revenue of $603.43 million.
• Several analysts have rated Futu as a strong buy, with a consensus price target around $158.13, indicating positive outlooks from various financial institutions.

Candriam S.C.A. reduced its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 35.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 227,392 shares of the company's stock after selling 122,708 shares during the period. Candriam S.C.A. owned 0.16% of Futu worth $23,274,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Erste Asset Management GmbH purchased a new stake in shares of Futu during the first quarter worth about $1,036,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Futu by 1,137.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company's stock worth $1,791,000 after purchasing an additional 16,086 shares during the period. Yong Rong HK Asset Management Ltd purchased a new stake in Futu in the first quarter worth about $77,172,000. Trivest Advisors Ltd purchased a new stake in Futu in the first quarter worth about $98,651,000. Finally, GAM Holding AG lifted its holdings in Futu by 41.7% in the first quarter. GAM Holding AG now owns 8,500 shares of the company's stock worth $870,000 after buying an additional 2,500 shares during the period.

Futu Trading Up 2.3%

NASDAQ:FUTU traded up $4.4090 during trading hours on Monday, reaching $195.0490. The company had a trading volume of 2,085,556 shares, compared to its average volume of 2,691,825. Futu Holdings Limited Sponsored ADR has a 52 week low of $56.22 and a 52 week high of $197.35. The firm has a market cap of $27.14 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 0.85 and a beta of 0.49. The firm's 50 day moving average price is $147.12 and its 200-day moving average price is $118.80.

Futu (NASDAQ:FUTU - Get Free Report) last posted its 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 net margin of 44.25% and a return on equity of 26.36%. The business had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. On average, analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FUTU has been the subject of several recent research reports. Bank of America lifted their target price on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a report on Thursday. Barclays lifted their target price on shares of Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a report on Friday. Citigroup lifted their target price on shares of Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday. Daiwa America upgraded shares of Futu to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Daiwa Capital Markets initiated coverage on shares of Futu in a report on Monday, August 11th. They set a "buy" rating and a $190.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $176.14.

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.