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

Penserra Capital Management LLC lifted its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 51.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 32,289 shares of the company's stock after purchasing an additional 10,928 shares during the period. Penserra Capital Management LLC's holdings in Futu were worth $3,303,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new position in Futu in the fourth quarter worth about $116,315,000. Point72 Hong Kong Ltd boosted its position in shares of Futu by 170.6% during the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock valued at $66,459,000 after purchasing an additional 523,808 shares in the last quarter. Norges Bank purchased a new stake in Futu in the fourth quarter worth $39,163,000. Man Group plc purchased a new stake in Futu in the fourth quarter worth $25,430,000. Finally, William Blair Investment Management LLC raised its holdings in Futu by 1,325.6% in the fourth quarter. William Blair Investment Management LLC now owns 285,120 shares of the company's stock worth $22,806,000 after purchasing an additional 265,120 shares in the last quarter.

Futu Price Performance

Shares of Futu stock traded up $11.87 during trading on Wednesday, hitting $142.40. 4,940,843 shares of the company's stock traded hands, compared to its average volume of 2,931,904. Futu Holdings Limited Sponsored ADR has a 1 year low of $51.80 and a 1 year high of $143.75. The business has a 50-day simple moving average of $111.76 and a 200-day simple moving average of $101.71. The stock has a market capitalization of $19.81 billion, a P/E ratio of 21.75, a PEG ratio of 1.03 and a beta of 0.60.

Futu (NASDAQ:FUTU - Get Free Report) last issued 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 company had revenue of $603.43 million for the quarter, compared to the consensus estimate of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. On average, equities analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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