CenterBook Partners LP Invests $1.10 Million in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

CenterBook Partners LP acquired a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,767 shares of the company's stock, valued at approximately $1,102,000.

A number of other institutional investors have also modified their holdings of the business. Allianz SE bought a new position in Futu in the 1st quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Futu by 77.3% in the 4th 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. Spire Wealth Management lifted its stake 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 acquiring an additional 620 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Futu in the 4th quarter worth approximately $60,000. Finally, Vestcor Inc lifted its stake in shares of Futu by 19.2% in the 4th quarter. Vestcor Inc now owns 907 shares of the company's stock worth $73,000 after acquiring an additional 146 shares during the period.

Futu Trading Up 7.0%

Futu stock traded up $10.51 during trading hours on Friday, reaching $160.57. 6,478,908 shares of the stock were exchanged, compared to its average volume of 3,014,487. The company has a market cap of $22.34 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 1.27 and a beta of 0.60. Futu Holdings Limited Sponsored ADR has a twelve month low of $51.80 and a twelve month high of $169.80. The stock has a 50 day moving average of $119.49 and a two-hundred day moving average of $105.46.

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.01. The business had revenue of $603.43 million during the quarter, compared to analyst estimates of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. On average, analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on FUTU shares. Bank of America increased their target price on shares of Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Barclays started coverage on shares of Futu in a report on Thursday. They set an "overweight" rating and a $176.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.