Nykredit A S Purchases Shares of 22,415 Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Nykredit A/S acquired 22,415 Futu shares during the second quarter, creating a new position valued at approximately $2.1 million.
• Several other institutional investors increased their holdings, including Jupiter Asset Management, which expanded its position by more than 3,100%, and Jennison Associates, which raised its stake by 31.1%.
• Futu exceeded quarterly earnings expectations, reporting $3.33 EPS and $852.66 million in revenue. Despite the strong results, analysts’ consensus rating remains “Hold”, with an average price target of $139.91.

Nykredit A S acquired a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 22,415 shares of the company's stock, valued at approximately $2,101,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Trivest Advisors Ltd raised its holdings in shares of Futu by 2.5% in the 4th quarter. Trivest Advisors Ltd now owns 540,000 shares of the company's stock worth $88,673,000 after buying an additional 13,200 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in Futu by 3,105.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 60,900 shares of the company's stock valued at $10,000,000 after acquiring an additional 59,000 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its stake in Futu by 9.8% during the second quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,093,634 shares of the company's stock worth $102,517,000 after acquiring an additional 97,286 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Futu by 7.2% during the first quarter. Hsbc Holdings PLC now owns 332,501 shares of the company's stock valued at $45,448,000 after acquiring an additional 22,469 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Futu by 31.1% in the 1st quarter. Jennison Associates LLC now owns 211,509 shares of the company's stock valued at $28,926,000 after purchasing an additional 50,229 shares in the last quarter.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $121.75 on Tuesday. The business has a fifty day moving average of $106.99 and a 200-day moving average of $123.63. Futu Holdings Limited Sponsored ADR has a twelve month low of $80.50 and a twelve month high of $202.53. The firm has a market cap of $17.07 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.35 and a beta of 0.46.

• Futu Holdings NASDAQ: FUTU Stock: Is the Chinese Fintech Company a Buy?

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings results on Thursday, August 20th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.35. The business had revenue of $852.66 million for the quarter, compared to the consensus estimate of $786.07 million. Futu had a net margin of 42.95% and a return on equity of 28.20%. On average, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 9.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FUTU. Jefferies Financial Group reiterated a "buy" rating and set a $170.50 target price on shares of Futu in a research report on Thursday, May 28th. The Goldman Sachs Group lowered shares of Futu from a "buy" rating to a "neutral" rating and set a $102.13 price target on the stock. in a research report on Monday, May 25th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $87.00 price objective (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of Futu from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. Finally, Zacks Research raised Futu from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $139.91.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm's product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.

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