Nuveen LLC Purchases New Stake in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Nuveen LLC has acquired 140,111 shares of Futu Holdings Limited, valued at approximately $14.34 million, representing about 0.10% of the company's total shares.
• Several other hedge funds have also increased their stakes in Futu, with Trivest Advisors Ltd leading with a new investment of $98.65 million.
• Analysts have a consensus rating of "Buy"** for FUTU, with a price target averaging $158.13, reflecting bullish sentiment towards the stock.

Nuveen LLC bought a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 140,111 shares of the company's stock, valued at approximately $14,340,000. Nuveen LLC owned 0.10% of Futu as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors Inc. purchased a new stake in Futu in the first quarter valued at approximately $26,000. Allianz SE purchased a new stake in Futu in the first quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 buying an additional 197 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Futu during the fourth quarter worth approximately $60,000. Finally, Spire Wealth Management grew its stake in Futu by 2,066.7% during the first quarter. Spire Wealth Management now owns 650 shares of the company's stock worth $67,000 after buying an additional 620 shares during the period.

Analysts Set New Price Targets

Several research firms have issued reports on FUTU. Barclays boosted their price objective on shares of Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a research note on Friday. Daiwa America upgraded shares of Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. Citigroup boosted their price objective on shares of Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Daiwa Capital Markets began coverage on shares of Futu in a research note on Monday, August 11th. They set a "buy" rating and a $190.00 price objective for the company. Finally, Bank of America boosted their price objective on shares of Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $176.14.

Futu Stock Performance

Shares of FUTU stock traded down $4.79 on Tuesday, hitting $189.95. The stock had a trading volume of 1,977,685 shares, compared to its average volume of 2,468,994. The firm has a market capitalization of $26.43 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 0.86 and a beta of 0.49. The stock's 50 day moving average is $149.91 and its 200-day moving average is $119.91. Futu Holdings Limited Sponsored ADR has a 52-week low of $56.22 and a 52-week high of $197.35.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $603.43 million for the quarter, compared to analysts' expectations of $594.86 million. Futu had a net margin of 44.25% and a return on equity of 26.36%. Equities analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

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.