Bank of New York Mellon Corp Has $8.54 Million Stock Holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Bank of New York Mellon Corp reduced its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,479 shares of the company's stock after selling 6,788 shares during the period. Bank of New York Mellon Corp owned 0.06% of Futu worth $8,544,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership bought a new position in shares of Futu in the fourth quarter worth about $116,315,000. Hhlr Advisors LTD. increased its stake in shares of Futu by 6.4% in the fourth quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company's stock worth $89,453,000 after purchasing an additional 67,214 shares during the period. Point72 Hong Kong Ltd increased its stake in shares of Futu by 170.6% in the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock worth $66,459,000 after purchasing an additional 523,808 shares during the period. Geode Capital Management LLC increased its stake in shares of Futu by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 567,635 shares of the company's stock worth $44,890,000 after purchasing an additional 21,686 shares during the period. Finally, Norges Bank bought a new position in shares of Futu in the fourth quarter worth about $39,163,000.

Futu Price Performance

Shares of FUTU traded down $3.25 on Friday, hitting $163.61. The company's stock had a trading volume of 1,576,228 shares, compared to its average volume of 2,602,956. The company has a market capitalization of $22.76 billion, a PE ratio of 27.27, a PEG ratio of 1.31 and a beta of 0.60. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $51.80 and a fifty-two week high of $174.36. The company has a 50 day moving average price of $125.01 and a 200 day moving average price of $108.02.

Futu (NASDAQ:FUTU - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.95 by $0.01. The business had revenue of $603.43 million for the quarter, compared to the consensus estimate of $594.86 million. Futu had a return on equity of 23.07% and a net margin of 41.74%. On average, equities analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Wall Street Analyst Weigh In

FUTU has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Barclays assumed coverage on Futu in a research note on Thursday, July 17th. They set an "overweight" rating and a $176.00 price target on the stock. Finally, Citigroup boosted their price target on Futu from $113.00 to $176.00 and gave the company a "neutral" rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $152.82.

Futu Company 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.