Futu Holdings Limited Sponsored ADR $FUTU Stock Position Raised by Greenwoods Asset Management Hong Kong Ltd.

Key Points

• Greenwoods Asset Management Hong Kong increased its Futu position by 9.8% in the second quarter, adding 97,286 shares to hold 1.09 million shares worth approximately $102.5 million.
• Several other institutional investors also raised their stakes, including Aspex Management, State Street, UBS Asset Management and Bank of America, indicating continued institutional interest in Futu.
• Futu exceeded quarterly expectations, reporting $3.33 in EPS and $852.66 million in revenue, while analysts maintained an overall “Hold” rating with an average price target of $139.91.

Greenwoods Asset Management Hong Kong Ltd. increased its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,093,634 shares of the company's stock after acquiring an additional 97,286 shares during the period. Futu comprises 4.7% of Greenwoods Asset Management Hong Kong Ltd.'s investment portfolio, making the stock its 5th biggest position. Greenwoods Asset Management Hong Kong Ltd. owned approximately 0.78% of Futu worth $102,517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FUTU. Aspex Management HK Ltd increased its stake in Futu by 37.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company's stock worth $553,650,000 after purchasing an additional 919,724 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Futu by 7.5% in the third 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 during the period. State Street Corp grew its holdings in shares of Futu by 18.4% in the second 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Futu by 805.2% in the third 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 purchasing an additional 1,002,171 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Futu by 34.4% during the 2nd quarter. Bank of America Corp DE now owns 1,006,656 shares of the company's stock worth $124,413,000 after buying an additional 257,389 shares during the period.

Futu Stock Down 1.0%

Shares of NASDAQ:FUTU opened at $118.08 on Thursday. The firm's 50 day moving average price is $105.51 and its 200 day moving average price is $124.17. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.33 and a beta of 0.46. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $80.50 and a fifty-two week high of $202.53.

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

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings results on Thursday, August 20th. The company reported $3.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.98 by $0.35. Futu had a net margin of 42.95% and a return on equity of 28.20%. The company had revenue of $852.66 million during the quarter, compared to the consensus estimate of $786.07 million. On average, equities analysts anticipate that Futu Holdings Limited Sponsored ADR will post 9.44 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on FUTU. The Goldman Sachs Group lowered shares of Futu from a "buy" rating to a "neutral" rating and set a $102.13 target price on the stock. in a report on Monday, May 25th. Jefferies Financial Group reaffirmed a "buy" rating and set a $170.50 price objective on shares of Futu in a research report on Thursday, May 28th. Wall Street Zen upgraded Futu from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. Zacks Research upgraded Futu from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $87.00 target price (down from $300.00) on shares of Futu in a report on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $139.91.

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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