Invesco Ltd. lessened its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 29.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,112 shares of the company's stock after selling 45,507 shares during the period. Invesco Ltd. owned approximately 0.08% of Futu worth $11,270,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of FUTU. China Universal Asset Management Co. Ltd. boosted its holdings 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 valued at $1,791,000 after buying an additional 16,086 shares during the period. Yong Rong HK Asset Management Ltd acquired a new position in Futu during the first quarter worth $77,172,000. Trivest Advisors Ltd acquired a new position in Futu during the first quarter worth $98,651,000. GAM Holding AG boosted its holdings in Futu by 41.7% during the first quarter. GAM Holding AG now owns 8,500 shares of the company's stock worth $870,000 after purchasing an additional 2,500 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new position in Futu during the first quarter worth $12,687,000.
Analyst Upgrades and Downgrades
FUTU has been the subject of a number of recent analyst reports. Daiwa Capital Markets initiated coverage on shares of Futu in a research note on Monday, August 11th. They issued a "buy" rating and a $190.00 price target for the company. Citigroup increased their price target on shares of Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Bank of America increased their price target on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Daiwa America upgraded shares of Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Barclays increased their price objective on shares of Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Futu has an average rating of "Buy" and an average target price of $176.14.
View Our Latest Research Report on FUTU
Futu Stock Performance
Shares of Futu stock traded up $1.72 during midday trading on Thursday, hitting $185.65. 1,452,878 shares of the company traded hands, compared to its average volume of 2,678,583. The stock has a market cap of $25.83 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 0.84 and a beta of 0.49. The firm's fifty day moving average price is $151.15 and its 200-day moving average price is $120.35. Futu Holdings Limited Sponsored ADR has a 12 month low of $56.22 and a 12 month high of $197.35.
Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.01. The company had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. Futu had a net margin of 44.25% and a return on equity of 26.36%. Equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.
Futu Company 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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