Livforsakringsbolaget Skandia Omsesidigt Has $2.28 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Futu Holdings by 17.1%, acquiring an additional 2,700 shares in the second quarter, bringing its total holdings to $2.28 million.
• Several institutional investors, including Hhlr Advisors LTD and UBS Asset Management, significantly boosted their holdings in Futu during the first quarter, indicating strong interest in the company.
• Analysts have a positive outlook on Futu, with Barclays and Bank of America raising their price targets, the consensus target now being around $190.43.

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,500 shares of the company's stock after buying an additional 2,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Futu were worth $2,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in Futu in the first quarter valued at approximately $624,000. Inspire Investing LLC acquired a new stake in Futu in the first quarter valued at approximately $730,000. Strs Ohio acquired a new stake in Futu in the first quarter valued at approximately $2,783,000. Geneos Wealth Management Inc. purchased a new position in shares of Futu in the first quarter worth $27,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Futu by 883.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company's stock worth $101,262,000 after buying an additional 888,760 shares during the last quarter.

Futu Price Performance

Shares of FUTU stock traded up $4.07 on Friday, hitting $177.99. The company's stock had a trading volume of 2,123,243 shares, compared to its average volume of 2,038,337. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 0.79 and a beta of 0.57. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $65.18 and a fifty-two week high of $199.86. The firm's fifty day moving average price is $171.02 and its 200-day moving average price is $128.60.

Wall Street Analyst Weigh In

FUTU has been the topic of several research analyst reports. Dbs Bank upgraded shares of Futu to a "moderate buy" rating in a research report on Thursday, September 4th. Daiwa America raised shares of Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. Bank of America upped their target price on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. increased their price target on shares of Futu from $200.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Finally, Daiwa Capital Markets started coverage on shares of Futu in a research report on Monday, August 11th. They set a "buy" rating and a $190.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Futu currently has a consensus rating of "Buy" and a consensus target price of $190.43.

Futu Company 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.