Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG sold 8,000 shares of Futu Holdings, reducing its holdings by 45.9% to 9,420 shares worth $964,000 as of its latest SEC filing.
• Several institutional investors have significantly increased their positions in Futu, with Spire Wealth Management boosting its holdings by 2,066.7% in the same quarter.
• Futu's stock has a current price target consensus of $152.82 from analysts, with a consensus rating of "Moderate Buy" across the board.

J. Safra Sarasin Holding AG lowered its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 45.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,420 shares of the company's stock after selling 8,000 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Futu were worth $964,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Futu by 77.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after buying an additional 197 shares in the last quarter. Spire Wealth Management raised its position in Futu by 2,066.7% during the first quarter. Spire Wealth Management now owns 650 shares of the company's stock worth $67,000 after acquiring an additional 620 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Futu in the fourth quarter valued at about $60,000. Rakuten Securities Inc. increased its stake in shares of Futu by 53.0% during the 1st quarter. Rakuten Securities Inc. now owns 1,045 shares of the company's stock worth $107,000 after purchasing an additional 362 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Futu by 2,723.1% during the 1st quarter. Versant Capital Management Inc now owns 1,101 shares of the company's stock worth $113,000 after purchasing an additional 1,062 shares in the last quarter.

Futu Price Performance

FUTU stock traded down $0.15 on Wednesday, hitting $155.03. 1,343,454 shares of the company were exchanged, compared to its average volume of 2,933,992. The stock has a market capitalization of $21.57 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 1.22 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a twelve month low of $56.22 and a twelve month high of $174.36. The business's fifty day moving average is $131.00 and its two-hundred day moving average is $111.82.

Futu (NASDAQ:FUTU - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.01. Futu had a net margin of 41.74% and a return on equity of 23.07%. The firm had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. Equities research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FUTU has been the topic of several recent research reports. Bank of America upped their price objective on Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Barclays initiated coverage on shares of Futu in a research report on Thursday, July 17th. They issued an "overweight" rating and a $176.00 price objective for the company. Finally, Citigroup lifted their target price on shares of Futu from $113.00 to $176.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Futu presently has an average rating of "Moderate Buy" and a consensus price target of $152.82.

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.