Canada Pension Plan Investment Board Has $10.10 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Canada Pension Plan Investment Board increased its holdings in Futu Holdings Limited by 9.7% in Q1, owning approximately 98,700 shares valued at $10.1 million.
• Wall Street analysts are optimistic about Futu's prospects, with Barclays and JPMorgan raising their price targets to $232.00 and $270.00, respectively, and multiple analysts assigning a Buy rating to the stock.
• Futu's stock is currently valued at around $186.98, having experienced a significant 12-month high of $197.35, indicating strong market interest and performance.

Canada Pension Plan Investment Board increased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,700 shares of the company's stock after purchasing an additional 8,700 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of Futu worth $10,102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FUTU. Trivest Advisors Ltd bought a new position in Futu in the first quarter worth $98,651,000. Yong Rong HK Asset Management Ltd bought a new position in Futu in the first quarter worth $77,172,000. Greenwoods Asset Management Hong Kong Ltd. lifted its position in Futu by 48.2% in the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,901,635 shares of the company's stock worth $194,632,000 after purchasing an additional 618,701 shares during the period. National Bank of Canada FI bought a new position in Futu in the first quarter worth $60,847,000. Finally, Point72 Hong Kong Ltd lifted its position in Futu by 170.6% in 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 during the period.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FUTU shares. Bank of America lifted their price objective on Futu from $172.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Citigroup lifted their price objective on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Daiwa America raised Futu to a "strong-buy" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price objective on Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Finally, Barclays lifted their price objective on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $190.43.

Futu Price Performance

Shares of NASDAQ:FUTU traded down $1.84 during midday trading on Friday, reaching $187.28. The company's stock had a trading volume of 1,894,440 shares, compared to its average volume of 2,252,297. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $56.22 and a fifty-two week high of $199.86. The company has a market capitalization of $26.06 billion, a P/E ratio of 25.98, a P/E/G ratio of 0.83 and a beta of 0.57. The business's fifty day simple moving average is $160.73 and its 200-day simple moving average is $123.82.

About Futu

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.