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Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Shares Sold by Central Asset Investments & Management Holdings HK Ltd

Futu logo with Business Services background

Key Points

  • Central Asset Investments & Management Holdings HK Ltd reduced its stake in Futu Holdings by 84.3%, now owning 9,018 shares, which represents 1.6% of its portfolio valued at approximately $923,000.
  • Futu reported an EPS of $1.96 for the last quarter, slightly beating estimates, with total revenue reaching $603.43 million compared to expectations of $594.86 million.
  • Analysts show a positive outlook on Futu, with multiple firms providing buy ratings and price targets ranging from $143.90 to $176.00, indicating strong growth potential.
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Central Asset Investments & Management Holdings HK Ltd decreased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 84.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 9,018 shares of the company's stock after selling 48,279 shares during the period. Futu comprises 1.6% of Central Asset Investments & Management Holdings HK Ltd's portfolio, making the stock its 16th biggest position. Central Asset Investments & Management Holdings HK Ltd's holdings in Futu were worth $923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prudential PLC lifted its position in shares of Futu by 444.2% during the 1st quarter. Prudential PLC now owns 143,715 shares of the company's stock valued at $14,709,000 after acquiring an additional 117,306 shares during the period. Resona Asset Management Co. Ltd. raised its position in Futu by 2.0% in the first quarter. Resona Asset Management Co. Ltd. now owns 15,614 shares of the company's stock valued at $1,601,000 after purchasing an additional 313 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Futu by 5.1% in the first quarter. Public Sector Pension Investment Board now owns 45,314 shares of the company's stock valued at $4,638,000 after buying an additional 2,200 shares during the period. Nuveen LLC acquired a new stake in Futu during the first quarter worth approximately $14,340,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Futu in the first quarter valued at approximately $26,000.

Futu Price Performance

Shares of FUTU stock traded down $0.50 during trading hours 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. Futu Holdings Limited Sponsored ADR has a one year low of $56.22 and a one year high of $179.17. The stock's 50-day moving average price is $140.43 and its two-hundred day moving average price is $115.68. The stock has a market capitalization of $24.25 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 1.08 and a beta of 0.49.

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

Wall Street Analysts Forecast Growth

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

View Our Latest Analysis on FUTU

Futu Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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