Charles Schwab Investment Management Inc. Boosts Position in Futu Holdings Limited Sponsored ADR $FUTU

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. increased its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,430 shares of the company's stock after purchasing an additional 5,056 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in Futu were worth $6,901,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hhlr Advisors LTD. lifted its stake in Futu by 6.4% during the fourth quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company's stock worth $89,453,000 after purchasing an additional 67,214 shares during the last quarter. Trivest Advisors Ltd purchased a new stake in Futu in the first quarter valued at approximately $98,651,000. Point72 Hong Kong Ltd lifted its stake in Futu by 170.6% in the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock valued at $66,459,000 after buying an additional 523,808 shares during the last quarter. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Futu in the first quarter valued at approximately $77,172,000. Finally, Ninety One UK Ltd purchased a new position in shares of Futu during the first quarter worth approximately $42,903,000.

Futu Price Performance

Shares of FUTU stock opened at $189.95 on Wednesday. The business's fifty day moving average price is $149.91 and its 200 day moving average price is $119.91. Futu Holdings Limited Sponsored ADR has a 1-year low of $56.22 and a 1-year high of $197.35. The firm has a market capitalization of $26.43 billion, a PE ratio of 26.35, a P/E/G ratio of 0.86 and a beta of 0.49.

Futu (NASDAQ:FUTU - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.01. The company had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. Futu had a return on equity of 26.36% and a net margin of 44.25%. Equities research 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

FUTU has been the topic of a number of 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, August 21st. 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, August 21st. Daiwa America raised shares of Futu to a "strong-buy" rating in a report on Tuesday, August 12th. 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, August 22nd. Finally, Daiwa Capital Markets began coverage on shares of Futu in a report on Monday, August 11th. They issued a "buy" rating and a $190.00 target price on the stock. One 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 stock. According to MarketBeat, Futu currently has an average rating of "Buy" and an average price target of $176.14.

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.

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