Futu Holdings Limited Sponsored ADR $FUTU Stock Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding reduced its Futu position by 25.4% in the third quarter, selling 28,959 shares and retaining 84,951 shares valued at approximately $9.4 million.
• Analyst sentiment remains cautious: Futu has an average “Hold” rating from six analysts, with an average price target of $139.91.
• Futu reported stronger-than-expected quarterly results, earning $3.33 per share versus estimates of $2.98 and generating $852.66 million in revenue against an $786.07 million consensus estimate.

Vontobel Holding Ltd. lessened its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 25.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,951 shares of the company's stock after selling 28,959 shares during the period. Vontobel Holding Ltd. owned approximately 0.06% of Futu worth $9,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. raised its holdings in shares of Futu by 59.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares in the last quarter. USS Investment Management Ltd grew its holdings in shares of Futu by 0.7% during the first quarter. USS Investment Management Ltd now owns 13,631 shares of the company's stock worth $1,865,000 after purchasing an additional 94 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Futu by 19.2% during the third quarter. V Square Quantitative Management LLC now owns 583 shares of the company's stock worth $64,000 after purchasing an additional 94 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Futu by 3.8% during the first quarter. Sequoia Financial Advisors LLC now owns 4,482 shares of the company's stock worth $613,000 after purchasing an additional 166 shares in the last quarter. Finally, State of Wyoming increased its position in shares of Futu by 21.4% in the first quarter. State of Wyoming now owns 1,530 shares of the company's stock worth $209,000 after purchasing an additional 270 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FUTU shares. Weiss Ratings downgraded shares of Futu from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 9th. Zacks Research upgraded shares of Futu from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Finally, Wall Street Zen raised shares of Futu from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $139.91.

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

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $105.48 on Friday. The firm has a market capitalization of $14.79 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.05 and a beta of 0.45. 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 fifty day moving average of $113.18 and a 200 day moving average of $116.81.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings results on Thursday, August 20th. The company reported $3.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.98 by $0.35. Futu had a return on equity of 28.20% and a net margin of 42.95%. The business had revenue of $852.66 million for the quarter, compared to the consensus estimate of $786.07 million. On average, sell-side analysts forecast that Futu Holdings Limited Sponsored ADR will post 9.42 EPS for the current fiscal year.

Futu Profile

Futu Holdings Limited is a technology-driven financial services company that operates online brokerage and wealth-management platforms. Founded in 2012 and headquartered in Hong Kong, the company provides digital tools designed to help individual investors access securities markets, manage portfolios and obtain investment information.

Its principal platforms include Futubull and Moomoo, which offer services such as stock and exchange-traded fund trading, margin financing, market data, research, news, portfolio management and investor education.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.