Futu Holdings Limited Sponsored ADR $FUTU Shares Acquired 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. boosted its position 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 disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,998 shares of the company's stock after purchasing 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 institutional investors have also added to or reduced their stakes in FUTU. Atlas Capital Advisors Inc. bought a new stake in shares of Futu during the first quarter valued at approximately $26,000. Allianz SE acquired a new position in shares of Futu during the first quarter worth $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 worth $36,000 after purchasing an additional 197 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Futu during the fourth quarter worth $60,000. Finally, Spire Wealth Management increased its position in shares of Futu by 2,066.7% during the first quarter. Spire Wealth Management now owns 650 shares of the company's stock worth $67,000 after purchasing an additional 620 shares in the last quarter.

Futu Price Performance

Futu stock traded up $3.31 during midday trading on Monday, reaching $193.95. The company had a trading volume of 2,022,238 shares, compared to its average volume of 2,691,435. The company has a market capitalization of $26.99 billion, a P/E ratio of 26.90, a P/E/G ratio of 0.85 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 12-month low of $56.22 and a 12-month high of $197.35. The firm's fifty day simple moving average is $147.12 and its 200-day simple moving average is $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 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 firm had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. On average, analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FUTU shares. Bank of America upped their price target on Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday. Daiwa America raised Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. 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 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 on the stock. Finally, Citigroup boosted their price objective on shares of Futu from $176.00 to $190.00 and gave the company a "neutral" 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 data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target 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.