Hhlr Advisors LTD. Purchases 3,189,189 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Hhlr Advisors LTD. increased its stake in Futu Holdings Limited by 285.2%, acquiring 3,189,189 shares, bringing its total ownership to 4,307,492 shares worth approximately $440.9 million.
• Futu reported a quarterly earnings per share of $1.96, slightly exceeding analysts' expectations of $1.95, with revenue hitting $603.43 million compared to an expected $594.86 million.
• Multiple analysts have raised their price targets for Futu, with Bank of America setting a new target of $200.00 and JPMorgan Chase boosting it to $270.00, reflecting a positive outlook for the company's stock.

Hhlr Advisors LTD. boosted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 285.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,307,492 shares of the company's stock after purchasing an additional 3,189,189 shares during the period. Futu makes up 12.8% of Hhlr Advisors LTD.'s portfolio, making the stock its 3rd biggest position. Hhlr Advisors LTD. owned 3.10% of Futu worth $440,872,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Erste Asset Management GmbH purchased a new position in Futu in the 1st quarter valued at about $1,036,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Futu by 1,137.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company's stock worth $1,791,000 after buying an additional 16,086 shares during the last quarter. Yong Rong HK Asset Management Ltd acquired a new stake in Futu during the first quarter valued at approximately $77,172,000. Charles Schwab Investment Management Inc. raised its position in shares of Futu by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company's stock valued at $6,901,000 after acquiring an additional 5,056 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Futu by 5.5% during the 1st quarter. Hsbc Holdings PLC now owns 386,028 shares of the company's stock valued at $39,505,000 after acquiring an additional 20,202 shares in the last quarter.

Futu Stock Down 0.3%

Shares of NASDAQ:FUTU opened at $185.60 on Monday. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $56.22 and a fifty-two week high of $197.35. The company has a market cap of $25.82 billion, a PE ratio of 25.74, a P/E/G ratio of 0.82 and a beta of 0.57. The company's 50-day moving average price is $153.85 and its 200 day moving average price is $121.51.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.01. The company had revenue of $603.43 million for the quarter, compared to analysts' expectations of $594.86 million. Futu had a return on equity of 26.36% and a net margin of 44.25%. As a group, equities analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on FUTU. Bank of America lifted their price objective on shares of Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Barclays raised their price target on shares of Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Citigroup boosted their price objective on shares of Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Daiwa America raised shares of Futu to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lifted their target price on Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Futu has an average rating of "Buy" and an average target price of $190.43.

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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