E. Ohman J or Asset Management AB Has $3.69 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• E. Ohman J or Asset Management AB increased its Futu Holdings position by 1,058.8% in the second quarter, acquiring 36,000 additional shares for a total holding worth approximately $3.69 million.
• Several other institutional investors also expanded their Futu stakes, including UBS Asset Management, Aspex Management and BNP Paribas Financial Markets, signaling continued institutional interest.
• Analysts maintain a mixed but overall positive outlook, with Futu carrying a “Moderate Buy” consensus rating and an average price target of $158.27, despite the company missing quarterly EPS and revenue estimates.

E. Ohman J or Asset Management AB increased its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 1,058.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,400 shares of the company's stock after acquiring an additional 36,000 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Futu were worth $3,693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FUTU. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Futu by 805.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company's stock worth $195,933,000 after purchasing an additional 1,002,171 shares during the last quarter. Aspex Management HK Ltd boosted its stake in shares of Futu by 37.5% in the 4th quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company's stock valued at $553,650,000 after purchasing an additional 919,724 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Futu in the 2nd quarter valued at about $61,574,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Futu by 25,558,100.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 511,164 shares of the company's stock worth $83,938,000 after buying an additional 511,162 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Futu by 166.4% during the second quarter. BNP Paribas Financial Markets now owns 455,266 shares of the company's stock worth $56,266,000 after buying an additional 284,387 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. restated a "neutral" rating and issued a $87.00 price objective (down from $300.00) on shares of Futu in a report on Friday, May 22nd. Zacks Research raised shares of Futu from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. The Goldman Sachs Group cut shares of Futu from a "buy" rating to a "neutral" rating and set a $102.13 target price for the company. in a research report on Monday, May 25th. Jefferies Financial Group reissued a "buy" rating and issued a $170.50 price target on shares of Futu in a research note on Thursday, May 28th. Finally, Wall Street Zen cut Futu from a "hold" rating to a "sell" rating in a research note on Saturday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Futu has a consensus rating of "Moderate Buy" and an average price target of $158.27.

• Futu Holdings NASDAQ: FUTU Stock: Is the Chinese Fintech Company a Buy?

Futu Stock Performance

Shares of FUTU opened at $108.70 on Tuesday. The firm has a market cap of $15.24 billion, a P/E ratio of 11.96, a PEG ratio of 1.28 and a beta of 0.43. Futu Holdings Limited Sponsored ADR has a twelve month low of $80.50 and a twelve month high of $202.53. The firm's 50 day moving average price is $99.03 and its two-hundred day moving average price is $129.40.

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($2.12). The company had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. On average, sell-side analysts anticipate that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current fiscal year.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm's product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source