Futu Holdings Limited Sponsored ADR $FUTU Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly increased its holdings in Fatu Holdings, purchasing an additional 35,529 shares for a total growth of 14,928.2% in the 2nd quarter, bringing their stake's value to approximately $4,420,000.
• Several institutional investors have also raised their stakes in Futu, with notable increases from Hhlr Advisors (285.2%) and UBS Asset Management (883.4%), indicating strong interest in the company.
• Analysts have set new price targets for Futu, with JPMorgan raising their target from $200.00 to $270.00 and Bank of America increasing theirs from $172.00 to $200.00, reflecting growing confidence in the stock.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 14,928.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,767 shares of the company's stock after acquiring an additional 35,529 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Futu were worth $4,420,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Hhlr Advisors LTD. grew its stake in Futu by 285.2% during the 1st quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company's stock valued at $440,872,000 after purchasing an additional 3,189,189 shares in the last quarter. Trivest Advisors Ltd acquired a new stake in shares of Futu during the first quarter worth approximately $98,651,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Futu by 883.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company's stock worth $101,262,000 after buying an additional 888,760 shares during the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in shares of Futu in the first quarter worth $77,172,000. Finally, Greenwoods Asset Management Hong Kong Ltd. raised its holdings 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 valued at $194,632,000 after acquiring an additional 618,701 shares in the last quarter.

Futu Trading Up 1.8%

NASDAQ FUTU opened at $173.09 on Tuesday. The company has a 50-day moving average price of $174.28 and a two-hundred day moving average price of $133.35. The stock has a market cap of $24.08 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 0.74 and a beta of 0.48. Futu Holdings Limited Sponsored ADR has a 52 week low of $70.60 and a 52 week high of $199.86.

Analysts Set New Price Targets

Several research firms have recently weighed in on FUTU. JPMorgan Chase & Co. boosted their target price on shares of Futu from $200.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Bank of America boosted their target price 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. Weiss Ratings restated a "hold (c+)" rating on shares of Futu in a research report on Saturday, September 27th. Dbs Bank upgraded shares of Futu to a "moderate buy" rating in a research note on Thursday, September 4th. Finally, Daiwa Capital Markets began coverage on shares of Futu in a report on Monday, August 11th. They issued a "buy" rating and a $190.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Futu presently has an average rating of "Moderate Buy" and a consensus price target of $190.43.

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.

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