Ninety One UK Ltd Makes New Investment in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

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

A number of other large investors have also added to or reduced their stakes in FUTU. Smartleaf Asset Management LLC increased its holdings in Futu by 1,245.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after buying an additional 411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Futu by 77.3% during 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 period. Rakuten Securities Inc. boosted its position in Futu by 239.8% during 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 period. Point72 Asia Singapore Pte. Ltd. bought a new position in Futu during the fourth quarter worth about $60,000. Finally, Assetmark Inc. boosted its position in Futu by 15,200.0% during 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 period.

Futu Trading Up 5.6%

Shares of FUTU stock traded up $7.26 during trading hours on Wednesday, hitting $137.79. 1,754,801 shares of the company's stock were exchanged, compared to its average volume of 2,913,693. The company has a market capitalization of $19.17 billion, a PE ratio of 23.00, a PEG ratio of 0.98 and a beta of 0.60. Futu Holdings Limited Sponsored ADR has a 12-month low of $51.80 and a 12-month high of $138.15. The business's 50 day simple moving average is $111.76 and its 200-day simple moving average is $101.71.

Futu (NASDAQ:FUTU - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $594.86 million. Equities analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FUTU. Bank of America increased their target price on shares of Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. lifted 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. Finally, UBS Group lifted 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.