Greenwoods Asset Management Hong Kong Ltd. Has $194.63 Million Stake in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

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Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 48.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,901,635 shares of the company's stock after buying an additional 618,701 shares during the quarter. Futu makes up approximately 6.0% of Greenwoods Asset Management Hong Kong Ltd.'s investment portfolio, making the stock its 6th largest position. Greenwoods Asset Management Hong Kong Ltd. owned approximately 1.37% of Futu worth $194,632,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FUTU. LPL Financial LLC acquired a new position in Futu during the fourth quarter worth approximately $381,000. Envestnet Asset Management Inc. acquired a new position in Futu during the fourth quarter worth approximately $1,158,000. Invesco Ltd. increased 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 last quarter. Raymond James Financial Inc. acquired a new position in Futu during the fourth quarter worth approximately $786,000. Finally, Townsquare Capital LLC acquired a new position in Futu during the fourth quarter worth approximately $439,000.

Futu Price Performance

NASDAQ:FUTU traded up $10.19 during trading hours on Friday, reaching $190.64. 3,101,088 shares of the company were exchanged, compared to its average volume of 2,410,198. The company has a market capitalization of $26.53 billion, a P/E ratio of 26.44, a P/E/G ratio of 0.85 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 1-year low of $56.22 and a 1-year high of $194.32. The business has a 50 day moving average of $147.12 and a 200 day moving average of $118.80.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Daiwa America raised Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. Barclays upped their target price on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research report on Friday. Bank of America upped their target price on Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday. Daiwa Capital Markets assumed coverage on Futu in a research report on Monday, August 11th. They issued a "buy" rating and a $190.00 target price on the stock. Finally, Citigroup upped their target price on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.