Futu Holdings Limited Sponsored ADR $FUTU Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Futu Holdings Limited by 8.1%, owning a total of 67,430 shares worth approximately $6.9 million by the end of the first quarter.
• Futu reported earnings of $1.96 per share in its latest financial results, slightly beating analysts' expectations, with total revenue of $603.43 million.
• Analysts have raised their price targets for Futu, with Bank of America increasing its target from $172.00 to $200.00 and Daiwa Capital Markets lifting their rating to strong-buy.

Charles Schwab Investment Management Inc. grew its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 8.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,430 shares of the company's stock after purchasing an additional 5,056 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Futu were worth $6,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allianz SE purchased a new stake in Futu during the first quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock worth $36,000 after purchasing an additional 197 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Futu during the fourth quarter worth about $60,000. Spire Wealth Management increased its stake in Futu by 2,066.7% during the first 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. Finally, Rakuten Securities Inc. increased its stake in Futu by 53.0% during the first quarter. Rakuten Securities Inc. now owns 1,045 shares of the company's stock worth $107,000 after purchasing an additional 362 shares during the period.

Futu Stock Down 0.3%

FUTU traded down $0.51 on Monday, reaching $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 stock has a 50 day moving average of $155.31 and a two-hundred day moving average of $121.96. The company has a market capitalization of $25.82 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 0.82 and a beta of 0.57. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $56.22 and a fifty-two week high of $197.35.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Daiwa Capital Markets assumed coverage on Futu in a research report on Monday, August 11th. They set a "buy" rating and a $190.00 price objective for the company. Barclays boosted their price objective on Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Bank of America boosted their price objective on Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. boosted their price objective on Futu from $200.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Citigroup boosted their price objective on Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Futu 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.