GAM Holding AG Has $870,000 Position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

GAM Holding AG lifted its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 41.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,500 shares of the company's stock after acquiring an additional 2,500 shares during the quarter. GAM Holding AG's holdings in Futu were worth $870,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new stake in Futu during the 4th quarter worth about $116,315,000. Hhlr Advisors LTD. lifted its position 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 in the last quarter. 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 period. Geode Capital Management LLC boosted 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 worth $44,890,000 after purchasing an additional 21,686 shares during the period. Finally, Norges Bank purchased a new position in Futu during the fourth quarter valued at approximately $39,163,000.

Futu Price Performance

FUTU traded up $7.03 during midday trading on Wednesday, hitting $124.33. 3,984,025 shares of the company's stock traded hands, compared to its average volume of 2,903,548. The company has a market cap of $17.30 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 0.93 and a beta of 0.58. The stock's fifty day simple moving average is $104.28 and its 200-day simple moving average is $99.15. Futu Holdings Limited Sponsored ADR has a one year low of $51.80 and a one year high of $130.88.

Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly 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. Futu had a net margin of 41.74% and a return on equity of 23.07%. The company had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. On average, research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Analyst Upgrades and Downgrades

FUTU has been the subject of a number of research reports. Bank of America lifted their target price on shares of Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research note on Wednesday, June 11th. UBS Group increased their price objective on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. boosted their target price on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $131.98.

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.