Janus Henderson Group PLC Decreases Stake in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Janus Henderson Group cut its Futu stake by 88% in the first quarter, selling 34,477 shares and retaining 4,700 shares valued at approximately $643,000.
• Institutional sentiment was mixed: several investors increased their positions, including Healthcare of Ontario Pension Plan Trust Fund, which boosted its holdings by 576.9% to 287,000 shares.
• Analyst views remain divided, with a consensus “Moderate Buy” rating and a $158.27 price target, while Futu recently missed quarterly earnings and revenue estimates; the stock opened at $108.70.

Janus Henderson Group PLC decreased its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 88.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,700 shares of the company's stock after selling 34,477 shares during the quarter. Janus Henderson Group PLC's holdings in Futu were worth $643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Futu by 58.3% during the first quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the company's stock worth $165,000 after buying an additional 443 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Futu by 1.0% during the 1st quarter. California State Teachers Retirement System now owns 65,035 shares of the company's stock valued at $8,894,000 after acquiring an additional 649 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Futu by 16.0% during the first quarter. Quantinno Capital Management LP now owns 53,197 shares of the company's stock worth $7,275,000 after purchasing an additional 7,343 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Futu by 18.6% during the first quarter. Lazard Asset Management LLC now owns 17,465 shares of the company's stock worth $2,389,000 after purchasing an additional 2,735 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Futu by 576.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 287,000 shares of the company's stock worth $39,250,000 after purchasing an additional 244,600 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Futu from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. The Goldman Sachs Group cut shares of Futu from a "buy" rating to a "neutral" rating and set a $102.13 price objective on the stock. in a research report on Monday, May 25th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $87.00 price objective (down from $300.00) on shares of Futu in a report on Friday, May 22nd. Wall Street Zen lowered shares of Futu from a "hold" rating to a "sell" rating in a research report on Saturday, May 30th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $170.50 target price on shares of Futu in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.27.

• Futu Holdings NASDAQ: FUTU Stock: Is the Chinese Fintech Company a Buy?

Futu Stock Performance

FUTU stock opened at $108.70 on Tuesday. The firm has a market cap of $15.24 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.28 and a beta of 0.43. The firm's fifty day moving average is $99.03 and its 200 day moving average is $129.40. Futu Holdings Limited Sponsored ADR has a 52 week low of $80.50 and a 52 week high of $202.53.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($2.12). Futu had a return on equity of 26.48% and a net margin of 41.87%.The business had revenue of $694.17 million during the quarter, compared to the consensus estimate of $761.35 million. As a group, analysts forecast that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current year.

Futu Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm's product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.

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