Futu Holdings Limited Sponsored ADR $FUTU Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Futu Holdings Limited by 5.5%, holding 386,028 shares valued at approximately $39.5 million as of its latest SEC filing.
• Several analysts raised their price targets for Futu, with Barclays increasing it from $176.00 to $232.00 and giving an "overweight" rating, indicating positive sentiment for the stock.
• Futu reported earnings of $1.96 EPS for the quarter, surpassing expectations and reflecting a strong net margin of 44.25%.

Hsbc Holdings PLC raised its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 386,028 shares of the company's stock after purchasing an additional 20,202 shares during the quarter. Hsbc Holdings PLC owned 0.28% of Futu worth $39,505,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Futu by 1,137.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company's stock worth $1,791,000 after purchasing an additional 16,086 shares during the period. Yong Rong HK Asset Management Ltd purchased a new position in shares of Futu in the 1st quarter worth about $77,172,000. Trivest Advisors Ltd purchased a new position in shares of Futu in the 1st quarter worth about $98,651,000. GAM Holding AG raised its holdings in shares of Futu by 41.7% in the 1st quarter. GAM Holding AG now owns 8,500 shares of the company's stock worth $870,000 after purchasing an additional 2,500 shares during the period. Finally, ARK Investment Management LLC purchased a new position in shares of Futu in the 1st quarter worth about $12,687,000.

Futu Trading Up 1.6%

NASDAQ FUTU traded up $2.91 during mid-day trading on Thursday, reaching $186.84. 1,100,817 shares of the company's stock traded hands, compared to its average volume of 2,676,209. Futu Holdings Limited Sponsored ADR has a 1-year low of $56.22 and a 1-year high of $197.35. The company has a fifty day simple moving average of $151.15 and a 200-day simple moving average of $120.35. The company has a market cap of $26.00 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 0.84 and a beta of 0.49.

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings data 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 return on equity of 26.36% and a net margin of 44.25%.The firm had revenue of $603.43 million during the quarter, compared to analyst estimates of $594.86 million. Equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FUTU has been the topic of several analyst reports. Barclays raised their target price on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Bank of America raised their target price on Futu from $172.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Citigroup raised their target price on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Daiwa America upgraded Futu to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Daiwa Capital Markets initiated coverage on Futu in a report on Monday, August 11th. They set a "buy" rating and a $190.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Futu presently has a consensus rating of "Buy" and a consensus target price 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.