Greenwoods Asset Management Hong Kong Ltd. Increases Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

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Greenwoods Asset Management Hong Kong Ltd. grew its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 48.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,901,635 shares of the company's stock after acquiring an additional 618,701 shares during the quarter. Futu comprises approximately 6.0% of Greenwoods Asset Management Hong Kong Ltd.'s portfolio, making the stock its 6th biggest holding. Greenwoods Asset Management Hong Kong Ltd. owned approximately 1.37% of Futu worth $194,632,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. LPL Financial LLC purchased a new position in Futu during the fourth quarter worth about $381,000. Envestnet Asset Management Inc. purchased a new position in Futu during the fourth quarter worth about $1,158,000. Invesco Ltd. lifted its position in Futu by 0.4% during the fourth quarter. Invesco Ltd. now owns 155,619 shares of the company's stock worth $12,448,000 after buying an additional 602 shares during the period. Raymond James Financial Inc. purchased a new position in Futu during the fourth quarter worth about $786,000. Finally, Townsquare Capital LLC purchased a new position in shares of Futu in the 4th quarter worth about $439,000.

Futu Stock Up 5.6%

NASDAQ:FUTU traded up $10.19 during trading hours on Friday, reaching $190.64. 3,101,088 shares of the stock were exchanged, compared to its average volume of 2,333,797. The firm has a 50 day simple moving average of $147.12 and a 200-day simple moving average of $118.65. Futu Holdings Limited Sponsored ADR has a 52 week low of $56.22 and a 52 week high of $194.32. The stock has a market capitalization of $26.53 billion, a P/E ratio of 26.44, a P/E/G ratio of 1.18 and a beta of 0.49.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FUTU shares. Daiwa Capital Markets started coverage on Futu in a research note on Monday, August 11th. They issued a "buy" rating and a $190.00 target price for the company. Barclays raised their price objective on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research note on Friday. Daiwa America upgraded Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. Bank of America raised their price objective on Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Citigroup raised their price objective on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $176.14.

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.