Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by Sei Investments Co.

Key Points

• Sei Investments cut its Futu stake by 72.2% in the first quarter, selling 28,470 shares and retaining 10,957 shares valued at approximately $1.5 million.
• Futu reported quarterly EPS of $0.77, missing the $2.89 consensus estimate, while revenue of $694.17 million also fell short of analyst expectations.
• Analyst sentiment remains mixed: Futu has a consensus “Moderate Buy” rating and an average price target of $158.27, despite recent downgrades and a stock price of $108.70.

Sei Investments Co. trimmed its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 72.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,957 shares of the company's stock after selling 28,470 shares during the quarter. Sei Investments Co.'s holdings in Futu were worth $1,498,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Aspex Management HK Ltd grew its stake in Futu by 37.5% during the 4th quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company's stock valued at $553,650,000 after purchasing an additional 919,724 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Futu by 7.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,660,168 shares of the company's stock valued at $288,720,000 after purchasing an additional 116,143 shares in the last quarter. State Street Corp raised its position in shares of Futu by 18.4% in the 2nd quarter. State Street Corp now owns 1,212,481 shares of the company's stock valued at $149,851,000 after purchasing an additional 188,840 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. boosted its stake in shares of Futu by 14.0% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,135,821 shares of the company's stock valued at $186,513,000 after buying an additional 139,473 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Futu by 805.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company's stock valued at $195,933,000 after buying an additional 1,002,171 shares during the last quarter.

Futu Stock Down 0.3%

Futu stock opened at $108.70 on Tuesday. Futu Holdings Limited Sponsored ADR has a 52-week low of $80.50 and a 52-week high of $202.53. The firm has a market capitalization of $15.24 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.28 and a beta of 0.43. The firm has a 50-day moving average price of $99.03 and a two-hundred day moving average price of $129.40.

• Futu Holdings NASDAQ: FUTU Stock: Is the Chinese Fintech Company a Buy?

Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $2.89 by ($2.12). The firm had revenue of $694.17 million during the quarter, compared to analyst estimates of $761.35 million. Futu had a net margin of 41.87% and a return on equity of 26.48%. Research analysts expect that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FUTU. JPMorgan Chase & Co. restated a "neutral" rating and issued a $87.00 price target (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. Zacks Research upgraded shares of Futu from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Jefferies Financial Group reissued a "buy" rating and set a $170.50 price objective on shares of Futu in a report on Thursday, May 28th. Wall Street Zen downgraded shares of Futu from a "hold" rating to a "sell" rating in a research report on Saturday, May 30th. Finally, The Goldman Sachs Group downgraded shares of Futu from a "buy" rating to a "neutral" rating and set a $102.13 target price for the company. in a research report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $158.27.

Futu 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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