China Universal Asset Management Co. Ltd. Grows Position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

China Universal Asset Management Co. Ltd. grew its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 1,137.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,500 shares of the company's stock after buying an additional 16,086 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Futu were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership bought a new stake in Futu in the fourth quarter worth $116,315,000. Hhlr Advisors LTD. increased its position in Futu by 6.4% in 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. Point72 Hong Kong Ltd increased its position in Futu by 170.6% in the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock worth $66,459,000 after purchasing an additional 523,808 shares during the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in Futu in the first quarter worth $77,172,000. Finally, Geode Capital Management LLC increased its position in Futu by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 567,635 shares of the company's stock worth $44,890,000 after purchasing an additional 21,686 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FUTU shares. JPMorgan Chase & Co. boosted their price target on shares of Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. UBS Group boosted their price target on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Finally, Bank of America boosted their price target on shares of Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $131.98.

Futu Stock Performance

FUTU stock traded up $7.26 during mid-day trading on Wednesday, reaching $137.79. 1,754,801 shares of the stock traded hands, compared to its average volume of 2,913,693. Futu Holdings Limited Sponsored ADR has a one year low of $51.80 and a one year high of $138.15. The stock has a market capitalization of $19.17 billion, a PE ratio of 23.00, a PEG ratio of 0.98 and a beta of 0.60. The business has a 50-day moving average price of $111.76 and a two-hundred day moving average price of $101.71.

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

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.