Fjarde AP Fonden Fourth Swedish National Pension Fund Has $1.26 Million Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Futu Holdings by 13.4%, now holding 12,298 shares valued at approximately $1.26 million.
• Several institutional investors, including Trivest Advisors Ltd and Yong Rong HK Asset Management Ltd, made significant new investments in Futu Holdings during the 1st quarter, reflecting growing interest in the company.
• Futu reported a quarterly EPS of $1.96, surpassing analyst estimates, while analysts maintain a consensus rating of "Buy" with an average target price of $158.13 for the stock.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 13.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,298 shares of the company's stock after selling 1,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Futu were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Atlas Capital Advisors Inc. bought a new stake in shares of Futu during the first quarter worth approximately $26,000. Allianz SE acquired a new position in Futu during the first quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after purchasing an additional 197 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Futu during the fourth quarter valued at approximately $60,000. Finally, Spire Wealth Management grew its holdings in Futu by 2,066.7% during the first quarter. Spire Wealth Management now owns 650 shares of the company's stock valued at $67,000 after purchasing an additional 620 shares during the period.

Analyst Upgrades and Downgrades

FUTU has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a report on Friday. Daiwa America upgraded shares of Futu to a "strong-buy" rating in a report on Tuesday, August 12th. Daiwa Capital Markets started coverage on shares of Futu in a report on Monday, August 11th. They set a "buy" rating and a $190.00 price objective for the company. Citigroup upped their price target on shares of Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Bank of America increased their target price on shares of Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $176.14.

Futu Stock Up 7.2%

Shares of NASDAQ FUTU traded up $13.00 during mid-day trading on Friday, reaching $193.45. 2,570,556 shares of the company were exchanged, compared to its average volume of 2,692,293. The company's 50-day simple moving average is $145.54 and its 200-day simple moving average is $117.85. The stock has a market capitalization of $26.92 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.11 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a twelve month low of $56.22 and a twelve month high of $194.32.

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings data 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 27.28%. The business had revenue of $603.43 million during the quarter, compared to analysts' expectations of $594.86 million. As a group, equities research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current 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.