Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by Schroder Investment Management Group

Key Points

• Schroder Investment Management cut its stake in Futu by 36.7% in Q3, selling 133,706 shares and retaining 230,261 shares valued at about $40.0 million.
• Several other institutions significantly increased or initiated positions—AGF bought a new stake (~$149.4M), Arrowstreet more than doubled to 1,544,025 shares (~$190.8M), while Tredje AP fonden and Aspex also made large purchases.
• Analyst sentiment is broadly positive with a consensus "Buy" rating and an average price target of $205.06, including recent upgrades from Goldman Sachs (to Buy, PT $213.39) and Barclays (overweight, PT $236).

Schroder Investment Management Group lessened its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 36.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 230,261 shares of the company's stock after selling 133,706 shares during the period. Schroder Investment Management Group owned approximately 0.17% of Futu worth $40,045,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. AGF Management Ltd. purchased a new stake in shares of Futu during the third quarter worth $149,432,000. Arrowstreet Capital Limited Partnership boosted its holdings in Futu by 113.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company's stock valued at $190,826,000 after purchasing an additional 822,343 shares during the period. Tredje AP fonden boosted its holdings in Futu by 3,579.1% in the third quarter. Tredje AP fonden now owns 688,000 shares of the company's stock valued at $119,650,000 after purchasing an additional 669,300 shares during the period. Aspex Management HK Ltd grew its stake in Futu by 21.1% during the 2nd quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company's stock worth $419,379,000 after purchasing an additional 591,082 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Futu by 166.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 455,266 shares of the company's stock worth $56,266,000 after purchasing an additional 284,387 shares during the period.

Analyst Upgrades and Downgrades

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

Futu Trading Down 0.6%

Shares of FUTU stock opened at $152.64 on Thursday. The company has a market cap of $21.24 billion, a P/E ratio of 17.09, a PEG ratio of 0.40 and a beta of 0.38. The firm has a fifty day moving average price of $160.15 and a 200 day moving average price of $169.47. Futu Holdings Limited Sponsored ADR has a 12 month low of $70.60 and a 12 month high of $202.53.

About Futu

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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