Gulf International Bank UK Ltd cut its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 55.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,310 shares of the company's stock after selling 2,895 shares during the period. Gulf International Bank UK Ltd's holdings in Futu were worth $236,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Prudential PLC lifted its position in Futu by 444.2% during the first quarter. Prudential PLC now owns 143,715 shares of the company's stock valued at $14,709,000 after purchasing an additional 117,306 shares in the last quarter. Resona Asset Management Co. Ltd. increased 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 worth $1,601,000 after buying an additional 313 shares in the last quarter. Public Sector Pension Investment Board raised 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 worth $4,638,000 after buying an additional 2,200 shares during the period. Nuveen LLC purchased a new position in shares of Futu during the 1st quarter valued at about $14,340,000. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Futu during the 1st quarter valued at approximately $26,000.
Futu Price Performance
Shares of NASDAQ FUTU traded up $11.18 during mid-day trading on Friday, reaching $191.63. The company's stock had a trading volume of 1,979,266 shares, compared to its average volume of 2,688,178. The firm has a market capitalization of $26.66 billion, a PE ratio of 26.56, a P/E/G ratio of 1.11 and a beta of 0.49. The stock has a fifty day moving average of $145.54 and a two-hundred day moving average of $117.85. Futu Holdings Limited Sponsored ADR has a 52 week low of $56.22 and a 52 week high of $194.32.
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, beating analysts' consensus estimates of $1.95 by $0.01. Futu had a return on equity of 27.28% and a net margin of 44.25%.The company had revenue of $603.43 million during the quarter, compared to analyst estimates of $594.86 million. Analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the stock. Bank of America lifted their price target on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a report on Thursday. Barclays lifted their target price on shares of Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research note on Friday. Daiwa America upgraded Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. Daiwa Capital Markets assumed coverage on Futu in a report on Monday, August 11th. They set a "buy" rating and a $190.00 price target on the stock. Finally, Citigroup upped their price objective on Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Futu presently has an average rating of "Buy" and an average price target of $176.14.
Check Out Our Latest Stock 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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