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

Ninety One UK Ltd purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 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 quarter.

A number of other hedge funds also recently bought and sold shares of FUTU. Smartleaf Asset Management LLC boosted its position 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 purchasing an additional 411 shares in 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 in the last quarter. 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Futu during the fourth quarter worth approximately $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 in the last quarter.

Futu Stock Up 4.5%

Shares of NASDAQ FUTU traded up $6.50 during midday trading on Friday, hitting $149.99. The stock had a trading volume of 4,393,351 shares, compared to its average volume of 2,959,055. The company has a market capitalization of $20.87 billion, a PE ratio of 25.00, a P/E/G ratio of 1.14 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 $102.82. Futu Holdings Limited Sponsored ADR has a 1 year low of $51.80 and a 1 year high of $150.01.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FUTU. JPMorgan Chase & Co. increased their price target on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Bank of America increased their price target on Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Finally, UBS Group increased their target price on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $131.98.

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.