Diversified Trust Co Takes Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Diversified Trust Co has acquired a new stake in Futu Holdings Limited, purchasing 3,156 shares valued at approximately $390,000 in the second quarter.
• Several large investors, including Hhlr Advisors LTD, Greenwoods Asset Management, and UBS AM, have significantly increased their holdings in Futu during the first quarter.
• Analysts are optimistic, with Bank of America and Barclays raising their target prices for Futu to as high as $232.00 and maintaining a "buy" rating.

Diversified Trust Co acquired a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,156 shares of the company's stock, valued at approximately $390,000.

Other large investors have also made changes to their positions in the company. Hhlr Advisors LTD. grew its holdings in Futu by 285.2% during the 1st quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company's stock worth $440,872,000 after acquiring an additional 3,189,189 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its holdings in Futu by 48.2% during the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,901,635 shares of the company's stock worth $194,632,000 after buying an additional 618,701 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Futu by 30.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,786,247 shares of the company's stock valued at $182,824,000 after purchasing an additional 417,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Futu by 883.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company's stock valued at $101,262,000 after purchasing an additional 888,760 shares during the last quarter. Finally, Trivest Advisors Ltd bought a new position in shares of Futu in the first quarter valued at $98,651,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FUTU. Bank of America raised their target price on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Dbs Bank raised shares of Futu to a "moderate buy" rating in a research report on Thursday, September 4th. Barclays lifted their price objective on shares of Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Daiwa Capital Markets started coverage on Futu in a report on Monday, August 11th. They set a "buy" rating and a $190.00 target price for the company. Finally, Citigroup boosted their price target on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $190.43.

Futu Price Performance

Futu stock opened at $167.09 on Wednesday. The business has a 50 day moving average of $171.86 and a 200-day moving average of $129.33. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $199.86. The company has a market capitalization of $23.25 billion, a P/E ratio of 23.17, a P/E/G ratio of 0.74 and a beta of 0.57.

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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