Ninety One UK Ltd Purchases Shares of 419,178 Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Ninety One UK Ltd bought a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 419,178 shares of the company's stock, valued at approximately $42,903,000. Ninety One UK Ltd owned 0.30% of Futu at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its position in shares of Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock valued at $36,000 after purchasing an additional 411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 in the last quarter. Rakuten Securities Inc. raised its position in Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock valued at $55,000 after acquiring an additional 482 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Futu during the fourth quarter valued at approximately $60,000. Finally, Assetmark Inc. raised its position in shares of Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock valued at $61,000 after purchasing an additional 760 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FUTU shares. JPMorgan Chase & Co. boosted their target price on shares of 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 upped their price target 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. Finally, UBS Group upped their price target on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Futu has an average rating of "Moderate Buy" and a consensus price target of $131.98.

Futu Price Performance

Shares of FUTU traded up $0.99 during mid-day trading on Thursday, hitting $143.39. 3,741,493 shares of the company's stock were exchanged, compared to its average volume of 2,935,292. The company has a market cap of $19.95 billion, a PE ratio of 23.88, a P/E/G ratio of 1.03 and a beta of 0.60. Futu Holdings Limited Sponsored ADR has a 52 week low of $51.80 and a 52 week high of $149.76. The company has a 50-day simple moving average of $112.76 and a 200 day simple moving average of $101.99.

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.01. The company had revenue of $603.43 million during 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%. On average, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

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.