Penserra Capital Management LLC Acquires 10,928 Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Penserra Capital Management LLC increased its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 51.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,289 shares of the company's stock after purchasing an additional 10,928 shares during the quarter. Penserra Capital Management LLC's holdings in Futu were worth $3,303,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after acquiring an additional 197 shares during the period. Spire Wealth Management raised its holdings in Futu by 2,066.7% during the first quarter. Spire Wealth Management now owns 650 shares of the company's stock valued at $67,000 after acquiring an additional 620 shares during the period. Rakuten Securities Inc. raised its holdings 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 during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Futu during the 4th quarter valued at approximately $60,000.

Wall Street Analyst Weigh In

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

Futu Stock Up 4.5%

NASDAQ FUTU traded up $6.50 during trading hours on Friday, hitting $149.99. 4,393,351 shares of the company were exchanged, compared to its average volume of 2,959,055. The stock has a market cap of $20.87 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.14 and a beta of 0.60. The stock has a 50-day moving average price of $114.79 and a 200 day moving average price of $102.82. Futu Holdings Limited Sponsored ADR has a 52 week low of $51.80 and a 52 week high of $150.01.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.01. The business had revenue of $603.43 million for 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%. As a group, sell-side 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.