Aberdeen Group plc Has $7.22 Million Stake in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Aberdeen Group plc increased its holdings in Futu Holdings Limited by 9.7% during the first quarter, owning approximately 71,497 shares valued at $7.2 million.
• A number of brokerages have recently upgraded their ratings for Futu, with Daiwa Capital setting a buy rating and target price of $190, while Citigroup increased its target from $113 to $176.
• Futu reported quarterly earnings of $1.96 per share, slightly exceeding analysts' expectations, along with a revenue of $603.43 million.

Aberdeen Group plc increased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,497 shares of the company's stock after acquiring an additional 6,327 shares during the quarter. Aberdeen Group plc owned about 0.05% of Futu worth $7,215,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors Inc. bought a new position in shares of Futu during the 1st quarter worth about $26,000. Allianz SE bought a new position in shares of Futu during the 1st quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Futu by 77.3% during the 4th 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 during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Futu during the 4th quarter worth about $60,000. Finally, Spire Wealth Management increased its holdings in shares of Futu by 2,066.7% during the 1st quarter. Spire Wealth Management now owns 650 shares of the company's stock worth $67,000 after purchasing an additional 620 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FUTU. Bank of America boosted their price objective on shares of Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Citigroup upped their target price 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. Daiwa America raised shares of Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. Daiwa Capital Markets started coverage on shares of Futu in a research note on Monday, August 11th. They issued a "buy" rating and a $190.00 target price on the stock. Finally, Barclays upped their target price on shares of Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research note on Friday. One 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. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $176.14.

Futu Stock Performance

Futu stock traded down $4.79 during trading hours on Tuesday, hitting $189.95. 1,977,685 shares of the stock were exchanged, compared to its average volume of 2,468,994. The stock has a market capitalization of $26.43 billion, a P/E ratio of 26.35, a P/E/G ratio of 0.86 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 business's 50-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 data on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, topping 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 firm had revenue of $603.43 million for the quarter, compared to analysts' expectations of $594.86 million. On average, equities analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

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.