Futu Holdings Limited Sponsored ADR $FUTU Shares Purchased by Swedbank AB

Swedbank AB raised its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 729.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,600 shares of the company's stock after acquiring an additional 44,500 shares during the quarter. Swedbank AB's holdings in Futu were worth $6,254,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lifestyle Asset Management Inc. increased its position in Futu by 2.1% during the second quarter. Lifestyle Asset Management Inc. now owns 3,971 shares of the company's stock worth $491,000 after purchasing an additional 83 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Futu by 17.1% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 18,500 shares of the company's stock valued at $2,280,000 after buying an additional 2,700 shares during the last quarter. Inspire Investing LLC bought a new stake in Futu during the 1st quarter valued at $730,000. Strs Ohio bought a new stake in Futu during the first quarter worth approximately $2,783,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Futu in the first quarter valued at $27,000.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FUTU. JPMorgan Chase & Co. increased their price objective on Futu from $200.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Barclays increased their price target on Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Bank of America increased their price objective on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Daiwa Capital Markets began coverage on Futu in a research note on Monday, August 11th. They issued a "buy" rating and a $190.00 price target on the stock. Finally, Daiwa America upgraded shares of Futu to a "strong-buy" rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $190.43.

Futu Stock Up 2.3%

Shares of NASDAQ:FUTU opened at $177.99 on Monday. The firm has a market capitalization of $24.77 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 0.79 and a beta of 0.57. Futu Holdings Limited Sponsored ADR has a twelve month low of $65.18 and a twelve month high of $199.86. The stock's 50 day moving average is $171.02 and its 200-day moving average is $128.68.

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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