Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Shares Bought by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its ownership in Futu Holdings by 12.5%, acquiring 41,424 additional shares, making it the firm's 10th largest position.
• Analysts from major firms, including Bank of America and Citigroup, have raised their price targets for Futu stock to between $143.90 and $190.00, indicating strong investor confidence.
• Futu Holdings reported an EPS of $1.96 for the last quarter, surpassing analyst estimates, and the company anticipates a EPS of 4.94 for the current year.

E Fund Management Co. Ltd. raised its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 373,173 shares of the company's stock after acquiring an additional 41,424 shares during the period. Futu comprises 1.8% of E Fund Management Co. Ltd.'s portfolio, making the stock its 10th biggest position. E Fund Management Co. Ltd. owned about 0.27% of Futu worth $38,194,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors Inc. bought a new stake in Futu during the 1st quarter worth about $26,000. Allianz SE acquired a new position in shares of Futu in the first quarter valued at $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Futu by 77.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after purchasing an additional 197 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Futu in the 4th quarter valued at $60,000. Finally, Spire Wealth Management boosted its position in shares of Futu by 2,066.7% in the first quarter. Spire Wealth Management now owns 650 shares of the company's stock valued at $67,000 after acquiring an additional 620 shares during the period.

Analyst Ratings Changes

FUTU has been the subject of a number of recent research reports. Barclays initiated coverage on shares of Futu in a research report on Thursday, July 17th. They issued an "overweight" rating and a $176.00 target price for the company. Daiwa Capital Markets assumed coverage on shares of Futu in a research report on Monday, August 11th. They set a "buy" rating and a $190.00 price objective for the company. Daiwa America raised shares of Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. Citigroup upped their price objective on shares of Futu from $113.00 to $176.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Bank of America upped their price objective on shares of Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Futu currently has a consensus rating of "Buy" and an average price target of $158.13.

Futu Stock Performance

Shares of Futu stock traded down $0.50 on Friday, hitting $174.25. The stock had a trading volume of 1,489,984 shares, compared to its average volume of 2,437,347. The firm has a market capitalization of $24.25 billion, a P/E ratio of 29.04, a PEG ratio of 1.08 and a beta of 0.49. The stock has a 50 day moving average of $140.43 and a 200 day moving average of $115.81. Futu Holdings Limited Sponsored ADR has a twelve month low of $56.22 and a twelve month high of $179.17.

Futu (NASDAQ:FUTU - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.01. The business had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. Equities analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

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.