Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Shares Sold by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. lessened its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 20.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,465 shares of the company's stock after selling 29,084 shares during the quarter. GF Fund Management CO. LTD. owned 0.08% of Futu worth $11,715,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FUTU. Arrowstreet Capital Limited Partnership acquired a new stake in Futu during the 4th quarter worth approximately $116,315,000. Point72 Hong Kong Ltd grew its position in Futu by 170.6% in the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock valued at $66,459,000 after acquiring an additional 523,808 shares in the last quarter. Norges Bank acquired a new stake in Futu in the fourth quarter valued at approximately $39,163,000. Candriam S.C.A. acquired a new stake in Futu in the fourth quarter valued at approximately $28,004,000. Finally, Man Group plc acquired a new stake in Futu in the fourth quarter valued at approximately $25,430,000.

Futu Price Performance

FUTU traded up $1.34 during trading hours on Monday, hitting $123.13. 1,831,936 shares of the stock were exchanged, compared to its average volume of 2,910,902. The stock has a 50-day simple moving average of $110.32 and a 200-day simple moving average of $101.24. Futu Holdings Limited Sponsored ADR has a 12 month low of $51.80 and a 12 month high of $130.88. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 0.96 and a beta of 0.60.

Futu (NASDAQ:FUTU - Get Free Report) last issued its earnings results 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 firm had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. Sell-side analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FUTU. JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. UBS Group increased their target price on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Finally, Bank of America increased 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Futu currently has a consensus rating of "Moderate Buy" and a consensus 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.