419,178 Shares in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Acquired by Ninety One UK Ltd

Ninety One UK Ltd acquired a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 419,178 shares of the company's stock, valued at approximately $42,903,000. Ninety One UK Ltd owned approximately 0.30% of Futu at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Futu by 1,245.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock valued at $36,000 after acquiring an additional 411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Futu by 77.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock worth $36,000 after purchasing an additional 197 shares during the last quarter. Rakuten Securities Inc. grew its holdings in Futu by 239.8% in the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock worth $55,000 after purchasing an additional 482 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Futu in the fourth quarter worth $60,000. Finally, Assetmark Inc. grew its holdings in Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after purchasing an additional 760 shares during the last quarter.

Futu Stock Performance

Shares of FUTU traded up $3.23 during mid-day trading on Friday, hitting $146.72. 1,725,291 shares of the company were exchanged, compared to its average volume of 2,941,319. Futu Holdings Limited Sponsored ADR has a 1-year low of $51.80 and a 1-year high of $150.01. The company has a 50 day moving average of $113.76 and a 200-day moving average of $102.39. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 1.13 and a beta of 0.60.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FUTU shares. Bank of America lifted their price objective on shares of Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. UBS Group boosted their target price on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Futu currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.98.

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.