Hsbc Holdings PLC grew its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 5.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 386,028 shares of the company's stock after acquiring an additional 20,202 shares during the period. Hsbc Holdings PLC owned about 0.28% of Futu worth $39,505,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Hhlr Advisors LTD. increased its stake in shares of Futu by 6.4% during the fourth quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company's stock worth $89,453,000 after purchasing an additional 67,214 shares in the last quarter. Trivest Advisors Ltd purchased a new stake in shares of Futu during the first quarter worth about $98,651,000. Point72 Hong Kong Ltd increased its stake in shares of Futu by 170.6% during the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock worth $66,459,000 after purchasing an additional 523,808 shares in the last quarter. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Futu during the first quarter worth about $77,172,000. Finally, National Bank of Canada FI purchased a new stake in shares of Futu during the first quarter worth about $60,847,000.
Futu Stock Down 3.3%
Shares of Futu stock traded down $6.19 during mid-day trading on Wednesday, hitting $183.76. The stock had a trading volume of 1,911,224 shares, compared to its average volume of 2,684,229. The firm has a 50-day moving average of $149.91 and a two-hundred day moving average of $119.91. Futu Holdings Limited Sponsored ADR has a 12-month low of $56.22 and a 12-month high of $197.35. The firm has a market cap of $25.57 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 0.86 and a beta of 0.49.
Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $594.86 million. Sell-side analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FUTU. Barclays boosted their target price on shares of Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Daiwa Capital Markets assumed coverage on shares of Futu in a research note on Monday, August 11th. They set a "buy" rating and a $190.00 price objective for the company. Citigroup upped their price objective on shares of Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Bank of America upped 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. Finally, Daiwa America raised shares of Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $176.14.
Read Our Latest Stock Analysis on FUTU
Futu Profile
(
Free Report)
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.
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