Jennison Associates LLC Has $26.48 Million Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Jennison Associates LLC cut its stake in Futu by 25% in Q4, selling 53,738 shares and finishing the period with 161,280 shares valued at $26.48 million (0.12% of the company).
• Wall Street is broadly bullish: Futu has an average rating of Buy with an average price target of $210.57, including a Goldman Sachs upgrade to Buy ($213.39) and Barclays' overweight target of $200.
• Futu reported solid results (quarterly EPS $3.07, revenue $771M, net margin 49.63%), trades around $154.85 with a $21.7B market cap, and recently paid a special dividend of $2.60.

Jennison Associates LLC cut its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,280 shares of the company's stock after selling 53,738 shares during the period. Jennison Associates LLC owned 0.12% of Futu worth $26,484,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FUTU. Geneos Wealth Management Inc. acquired a new stake in Futu during the first quarter worth approximately $27,000. TD Private Client Wealth LLC increased its holdings in shares of Futu by 6,075.0% during the third quarter. TD Private Client Wealth LLC now owns 247 shares of the company's stock worth $43,000 after purchasing an additional 243 shares during the period. Quarry LP bought a new position in shares of Futu during the third quarter worth approximately $51,000. Farther Finance Advisors LLC increased its holdings in shares of Futu by 53.2% during the fourth quarter. Farther Finance Advisors LLC now owns 331 shares of the company's stock worth $54,000 after purchasing an additional 115 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Futu during the fourth quarter worth approximately $61,000.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Futu in a report on Thursday, January 22nd. The Goldman Sachs Group raised shares of Futu from a "neutral" rating to a "buy" rating and set a $213.39 target price on the stock in a report on Monday, February 2nd. Finally, Barclays lowered their target price on shares of Futu from $236.00 to $200.00 and set an "overweight" rating on the stock in a report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Futu presently has an average rating of "Buy" and an average price target of $210.57.

Futu Price Performance

Shares of NASDAQ:FUTU opened at $154.85 on Friday. The company's 50 day simple moving average is $148.93 and its 200 day simple moving average is $162.02. The stock has a market capitalization of $21.71 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 0.88 and a beta of 0.52. Futu Holdings Limited Sponsored ADR has a 1 year low of $96.26 and a 1 year high of $202.53.

Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly earnings data on Sunday, February 15th. The company reported $3.07 earnings per share (EPS) for the quarter. The business had revenue of $771.00 million for the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. As a group, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 11.95 EPS for the current fiscal year.

Futu Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Investors of record on Thursday, April 16th were paid a $2.60 dividend. The ex-dividend date of this dividend was Thursday, April 16th. Futu's dividend payout ratio (DPR) is 24.81%.

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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