LBP AM SA bought a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 34,000 shares of the company's stock, valued at approximately $3,480,000.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Futu during the 4th quarter valued at $39,163,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Futu by 1,137.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company's stock valued at $1,791,000 after purchasing an additional 16,086 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Futu in the 1st quarter valued at about $77,172,000. GAM Holding AG raised its stake in shares of Futu by 41.7% in the 1st quarter. GAM Holding AG now owns 8,500 shares of the company's stock valued at $870,000 after purchasing an additional 2,500 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in Futu in the fourth quarter worth about $11,482,000.
Analysts Set New Price Targets
Several brokerages have commented on FUTU. Bank of America raised their price target on shares of Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research note on Wednesday, June 11th. UBS Group lifted their price objective on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.98.
View Our Latest Stock Report on Futu
Futu Trading Down 2.1%
FUTU stock traded down $3.09 during trading on Monday, reaching $146.90. 2,268,413 shares of the stock were exchanged, compared to its average volume of 2,965,940. Futu Holdings Limited Sponsored ADR has a twelve month low of $51.80 and a twelve month high of $151.20. The company has a market capitalization of $20.44 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The stock has a 50 day simple moving average of $114.79 and a 200-day simple moving average of $103.05.
Futu (NASDAQ:FUTU - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.01. The business had revenue of $603.43 million for the quarter, compared to analysts' expectations of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. Equities analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.
Futu 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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