Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in Futu Holdings by 28.0%, holding 11,569 shares valued at approximately $1.18 million after selling 4,498 shares.
• Futu Holdings reported earnings of $1.96 per share, exceeding estimates, with a revenue of $603.43 million compared to expected $594.86 million.
• Analysts have varied opinions on Futu, with Citigroup and Barclays setting target prices at $176.00, highlighting a consensus of a Moderate Buy rating.

US Bancorp DE decreased its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 28.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,569 shares of the company's stock after selling 4,498 shares during the quarter. US Bancorp DE's holdings in Futu were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hhlr Advisors LTD. grew its holdings in shares of Futu by 6.4% during the fourth quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company's stock valued at $89,453,000 after buying an additional 67,214 shares in the last quarter. Trivest Advisors Ltd purchased a new position in shares of Futu during the first quarter valued at $98,651,000. Point72 Hong Kong Ltd grew 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 valued at $66,459,000 after buying an additional 523,808 shares in the last quarter. Yong Rong HK Asset Management Ltd purchased a new position in shares of Futu during the first quarter valued at $77,172,000. Finally, Geode Capital Management LLC grew its holdings in shares of Futu by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 567,635 shares of the company's stock valued at $44,890,000 after buying an additional 21,686 shares in the last quarter.

Futu Price Performance

Shares of NASDAQ:FUTU opened at $160.92 on Friday. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $56.22 and a fifty-two week high of $174.36. The business has a 50-day moving average of $134.12 and a two-hundred day moving average of $113.24. The stock has a market capitalization of $22.39 billion, a P/E ratio of 26.82, a P/E/G ratio of 1.01 and a beta of 0.49.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on FUTU. Citigroup boosted their target price on Futu from $113.00 to $176.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Barclays began coverage on Futu in a research note on Thursday, July 17th. They issued an "overweight" rating and a $176.00 target price on the stock. Finally, Bank of America boosted their target price on Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Futu currently has an average rating of "Moderate Buy" and an average price target of $152.82.

About Futu

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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