Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by Lbp Am Sa

Key Points

• Lbp Am Sa reduced its stake in Futu Holdings by 53.5%, selling 18,202 shares and ending with a total of 15,798 shares valued at approximately $1.95 million.
• Futu's stock has seen recent upward momentum with various analysts raising price targets, including Citigroup's increase to $190, while it currently trades near $166.25.
• The consensus rating for Futu is a "Buy" with an average price target of $190.43 according to research firms, indicating positive sentiment among analysts regarding the company’s performance.

Lbp Am Sa lessened its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 53.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,798 shares of the company's stock after selling 18,202 shares during the period. Lbp Am Sa's holdings in Futu were worth $1,952,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Lifestyle Asset Management Inc. increased its holdings in shares of Futu by 2.1% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 3,971 shares of the company's stock worth $491,000 after acquiring an additional 83 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Futu by 2.0% in the 4th quarter. Mackenzie Financial Corp now owns 4,475 shares of the company's stock worth $358,000 after acquiring an additional 87 shares during the period. GAMMA Investing LLC increased its holdings in shares of Futu by 15.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,026 shares of the company's stock worth $127,000 after acquiring an additional 141 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Futu by 38.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 616 shares of the company's stock worth $64,000 after acquiring an additional 172 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Futu by 1.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,000 shares of the company's stock worth $2,047,000 after acquiring an additional 220 shares during the period.

Futu Trading Down 5.8%

NASDAQ:FUTU opened at $166.25 on Friday. Futu Holdings Limited Sponsored ADR has a twelve month low of $70.60 and a twelve month high of $199.86. The company has a 50-day moving average of $173.94 and a 200-day moving average of $132.21. The firm has a market cap of $23.13 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 0.77 and a beta of 0.48.

Analyst Ratings Changes

A number of research firms recently weighed in on FUTU. Citigroup increased their price objective on shares of Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Dbs Bank upgraded shares of Futu to a "moderate buy" rating in a research report on Thursday, September 4th. Bank of America increased their target price on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Barclays increased their target price on shares of Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Finally, Daiwa Capital Markets initiated coverage on shares of Futu in a research report on Monday, August 11th. They issued a "buy" rating and a $190.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $190.43.

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.

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