Erste Asset Management GmbH Buys New Shares in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Erste Asset Management GmbH acquired 10,000 shares of Futu Holdings Limited, valued at approximately $1,036,000, during the first quarter, as indicated in their recent SEC filing.
• Futu shares experienced a recent price increase, reaching $180.45, with a market capitalization of $25.11 billion and an anticipated earnings per share of 4.94 for the current fiscal year.
• Analysts have provided positive ratings for Futu, with Daiwa America upgrading the stock to "strong-buy" and Bank of America increasing its price target from $172.00 to $200.00.

Erste Asset Management GmbH purchased a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,000 shares of the company's stock, valued at approximately $1,036,000.

Other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC bought a new stake in shares of Futu during the 4th quarter valued at about $381,000. Envestnet Asset Management Inc. purchased a new stake in shares of Futu during the 4th quarter worth approximately $1,158,000. Raymond James Financial Inc. purchased a new stake in Futu during the 4th quarter valued at $786,000. NewEdge Advisors LLC grew its position in shares of Futu by 17,800.0% during the 4th quarter. NewEdge Advisors LLC now owns 3,043 shares of the company's stock worth $243,000 after buying an additional 3,026 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Futu by 50.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 66,117 shares of the company's stock worth $5,286,000 after purchasing an additional 22,211 shares during the last quarter.

Futu Stock Down 3.9%

NASDAQ:FUTU traded down $7.49 on Wednesday, hitting $182.46. The stock had a trading volume of 1,463,880 shares, compared to its average volume of 2,681,417. The stock has a market cap of $25.39 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 0.86 and a beta of 0.49. The company has a fifty day moving average price of $149.91 and a two-hundred day moving average price of $119.91. Futu Holdings Limited Sponsored ADR has a 1-year low of $56.22 and a 1-year high of $197.35.

Futu (NASDAQ:FUTU - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.01. Futu had a net margin of 44.25% and a return on equity of 26.36%. The firm had revenue of $603.43 million for the quarter, compared to the consensus estimate of $594.86 million. As a group, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Analyst Ratings Changes

FUTU has been the subject of a number of analyst reports. Barclays boosted their price target on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Daiwa Capital Markets assumed coverage on shares of Futu in a research report on Monday, August 11th. They set a "buy" rating and a $190.00 price target on the stock. Citigroup raised their price target on shares of Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Bank of America boosted their target price on shares of Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Finally, Daiwa America raised shares of Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price 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.