Deutsche Bank AG Increases Holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Key Points

• Deutsche Bank AG increased its stake in Futu Holdings Limited by 33.0%, now holding approximately $12.70 million worth of shares.
• Futu Holdings reported a net margin of 41.74% and earnings per share of $1.96, exceeding analysts' predictions by $0.01.
• Several analysts have updated their ratings on Futu, with Barclays setting an “overweight” rating and a price target of $176.00.

Deutsche Bank AG lifted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 33.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 124,090 shares of the company's stock after buying an additional 30,791 shares during the quarter. Deutsche Bank AG owned about 0.09% of Futu worth $12,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in Futu by 1,137.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company's stock valued at $1,791,000 after purchasing an additional 16,086 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new position in Futu in the first quarter valued at about $77,172,000. Trivest Advisors Ltd acquired a new position in Futu in the first quarter valued at about $98,651,000. GAM Holding AG raised its stake in Futu by 41.7% in the first quarter. GAM Holding AG now owns 8,500 shares of the company's stock valued at $870,000 after purchasing an additional 2,500 shares in the last quarter. Finally, ARK Investment Management LLC acquired a new position in Futu in the first quarter valued at about $12,687,000.

Wall Street Analyst Weigh In

FUTU has been the topic of a number of recent analyst reports. Bank of America lifted their target price on Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Daiwa America upgraded Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. Citigroup lifted their target price on Futu from $113.00 to $176.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Daiwa Capital Markets assumed coverage on Futu in a research report on Monday, August 11th. They issued a "buy" rating and a $190.00 target price on the stock. Finally, Barclays assumed coverage on Futu in a report on Thursday, July 17th. They set an "overweight" rating and a $176.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Futu presently has a consensus rating of "Buy" and a consensus price target of $158.13.

Futu Stock Down 0.3%

NASDAQ FUTU traded down $0.50 on Friday, reaching $174.25. The company had a trading volume of 1,489,984 shares, compared to its average volume of 2,437,347. The stock has a market capitalization of $24.25 billion, a P/E ratio of 29.04, a P/E/G ratio of 1.08 and a beta of 0.49. The company's fifty day moving average is $140.43 and its 200 day moving average is $115.81. Futu Holdings Limited Sponsored ADR has a 52-week low of $56.22 and a 52-week high of $179.17.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $1.96 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 return on equity of 23.07% and a net margin of 41.74%. On average, research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Futu 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.