Inspire Investing LLC purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,128 shares of the company's stock, valued at approximately $730,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors Inc. bought a new position in shares of Futu during the 1st quarter worth $26,000. Geneos Wealth Management Inc. purchased a new stake in shares of Futu during the 1st quarter worth $27,000. Allianz SE purchased a new stake in shares of Futu during the 1st quarter worth $30,000. SVB Wealth LLC purchased a new stake in shares of Futu during the 1st quarter worth $40,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Futu by 77.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock worth $36,000 after purchasing an additional 197 shares during the last quarter.
Futu Trading Down 1.1%
FUTU traded down $1.87 during trading on Thursday, hitting $173.08. The company's stock had a trading volume of 959,007 shares, compared to its average volume of 2,626,802. The business's fifty day simple moving average is $169.85 and its 200 day simple moving average is $127.58. The firm has a market capitalization of $24.08 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 0.78 and a beta of 0.57. Futu Holdings Limited Sponsored ADR has a twelve month low of $62.20 and a twelve month high of $199.86.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on FUTU shares. Barclays upped their price objective on Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Daiwa America upgraded Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. increased their price objective on Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Bank of America raised their price objective on Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Finally, Dbs Bank upgraded Futu to a "moderate buy" rating in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $190.43.
Read Our Latest Stock Report on Futu
About Futu
(
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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