Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Shares Sold by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd lessened its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 37.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,000 shares of the company's stock after selling 3,000 shares during the quarter. Futu makes up about 0.3% of BOCHK Asset Management Ltd's holdings, making the stock its 19th largest position. BOCHK Asset Management Ltd's holdings in Futu were worth $512,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FUTU. Arrowstreet Capital Limited Partnership purchased a new stake in Futu in the 4th quarter worth approximately $116,315,000. Point72 Hong Kong Ltd boosted its holdings in shares of Futu by 170.6% during 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 last quarter. Norges Bank purchased a new stake in shares of Futu in the fourth quarter valued at $39,163,000. Man Group plc acquired a new position in Futu in the fourth quarter valued at $25,430,000. Finally, William Blair Investment Management LLC increased its stake in Futu by 1,325.6% in the fourth quarter. William Blair Investment Management LLC now owns 285,120 shares of the company's stock valued at $22,806,000 after purchasing an additional 265,120 shares during the last quarter.

Futu Trading Up 1.1%

Shares of Futu stock traded up $1.34 during trading hours on Monday, reaching $123.13. The stock had a trading volume of 1,831,936 shares, compared to its average volume of 2,910,899. The firm has a market capitalization of $17.13 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 0.96 and a beta of 0.60. Futu Holdings Limited Sponsored ADR has a 1 year low of $51.80 and a 1 year high of $130.88. The firm has a 50 day simple moving average of $110.32 and a two-hundred day simple moving average of $101.24.

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

Analysts Set New Price Targets

Several research firms have commented on FUTU. JPMorgan Chase & Co. lifted their price target on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, March 14th. UBS Group boosted their target price on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. Finally, Bank of America upped their price target 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 analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $131.98.

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.