Invesco Ltd. Sells 45,507 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Invesco Ltd. has reduced its stake in Futu Holdings Limited by 29.2%, now holding 110,112 shares after selling 45,507 shares during the first quarter.
• Several institutions have increased their investments in Futu, including Hhlr Advisors and Point72 Hong Kong, demonstrating growing interest among hedge funds.
• Analysts generally view Futu positively, with an average rating of "Buy" and price targets reaching as high as $232.00 from Barclays.

Invesco Ltd. decreased its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 29.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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 SEC filing.

A number of other large investors also recently bought and sold shares of FUTU. Atlas Capital Advisors Inc. purchased a new position in Futu in the first quarter worth about $26,000. Allianz SE purchased a new position in Futu in the first quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after purchasing an additional 197 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Futu by 2,066.7% during the first quarter. Spire Wealth Management now owns 650 shares of the company's stock valued at $67,000 after purchasing an additional 620 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Futu during the fourth quarter valued at approximately $60,000.

Futu Price Performance

Shares of FUTU stock traded down $0.51 during mid-day trading on Friday, hitting $185.60. The company had a trading volume of 2,312,874 shares, compared to its average volume of 2,417,775. Futu Holdings Limited Sponsored ADR has a 52-week low of $56.22 and a 52-week high of $197.35. The stock's 50 day moving average price is $153.85 and its 200-day moving average price is $121.45. The company has a market capitalization of $25.82 billion, a P/E ratio of 25.74, a P/E/G ratio of 0.82 and a beta of 0.49.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) 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 the consensus estimate of $594.86 million. Futu had a net margin of 44.25% and a return on equity of 26.36%. On average, equities research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FUTU. JPMorgan Chase & Co. boosted their price objective on shares of Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday. Bank of America boosted their target price on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Citigroup boosted their target price 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 Capital Markets initiated coverage on shares of Futu in a research report on Monday, August 11th. They set a "buy" rating and a $190.00 target price for the company. Finally, Barclays boosted their target price 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 investment 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.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $190.43.

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.