Futu Holdings Limited Sponsored ADR $FUTU Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Futu Holdings by 48.4%, acquiring a total of 7,998 shares valued at approximately $827,000.
• Multiple institutional investors, including China Universal Asset Management and ARK Investment Management, also significantly increased their holdings in Futu during the first quarter.
• Analysts have raised target prices for Futu, with Citigroup and Barclays setting a target of $176.00, reflecting a growing confidence in the company's performance.

Ethic Inc. raised its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 48.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,998 shares of the company's stock after buying an additional 2,607 shares during the period. Ethic Inc.'s holdings in Futu were worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in FUTU. Atlas Capital Advisors Inc. purchased a new stake in shares of Futu in the 1st quarter worth approximately $26,000. Allianz SE bought a new position in shares of Futu during the first quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Futu during the fourth quarter valued at approximately $60,000. Finally, Spire Wealth Management boosted its stake in shares of 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 in the last quarter.

Futu Price Performance

Futu stock traded down $4.79 during mid-day trading on Tuesday, reaching $189.95. 1,977,685 shares of the company traded hands, compared to its average volume of 2,468,994. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $56.22 and a fifty-two week high of $197.35. The company has a market capitalization of $26.43 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 0.86 and a beta of 0.49. The firm's fifty day moving average is $149.91 and its two-hundred day moving average is $119.91.

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, beating analysts' consensus estimates of $1.95 by $0.01. Futu had a net margin of 44.25% and a return on equity of 26.36%. The business had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. As a group, equities research analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FUTU. Barclays increased their price objective on shares of Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research note on Friday. Daiwa America upgraded shares of Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. Bank of America increased their price objective on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Daiwa Capital Markets began coverage on shares of Futu in a research note on Monday, August 11th. They set a "buy" rating and a $190.00 price objective on the stock. Finally, Citigroup boosted their price objective on shares of Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, 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.