Futu Holdings Limited Sponsored ADR $FUTU Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Futu by 151.8% in Q3 to 96,583 shares, representing a 0.07% ownership worth about $16.8 million.
• Analysts have a consensus rating of Buy with a $205.06 target; Barclays raised its target to $236 and Goldman Sachs upgraded the stock to a Buy with a $213.39 target.
• Futu shares opened at $153.58 and were trading up ~7.2%; the company has a market cap of $21.37 billion, a PE of 17.20, and a 12‑month range of $70.60–$202.53.

Korea Investment CORP grew its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 151.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,583 shares of the company's stock after purchasing an additional 58,222 shares during the quarter. Korea Investment CORP owned 0.07% of Futu worth $16,797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of FUTU. Diversify Wealth Management LLC grew its stake in shares of Futu by 0.9% in the third quarter. Diversify Wealth Management LLC now owns 8,962 shares of the company's stock valued at $1,559,000 after buying an additional 83 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in Futu by 2.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 3,800 shares of the company's stock worth $470,000 after acquiring an additional 100 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Futu by 4.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,790 shares of the company's stock worth $485,000 after acquiring an additional 116 shares during the period. Cerity Partners LLC grew its position in Futu by 4.6% in the second quarter. Cerity Partners LLC now owns 2,729 shares of the company's stock valued at $337,000 after acquiring an additional 120 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its position in Futu by 15.3% in the second quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the company's stock valued at $144,000 after acquiring an additional 155 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of Futu from $232.00 to $236.00 and gave the stock an "overweight" rating in a research report on Thursday, November 20th. The Goldman Sachs Group raised shares of Futu from a "neutral" rating to a "buy" rating and set a $213.39 price target for the company in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Futu in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $205.06.

Futu Trading Up 7.2%

Shares of NASDAQ:FUTU opened at $153.58 on Wednesday. The firm has a market cap of $21.37 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.37 and a beta of 0.38. The company has a fifty day simple moving average of $160.38 and a 200 day simple moving average of $169.58. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $202.53.

Futu Company Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm's product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.

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