Futu Holdings Limited Sponsored ADR $FUTU Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. increased its holdings in Futu Holdings Limited by 30.5%, now owning approximately 1.78 million shares valued at about $182.8 million.
• Futu's stock has recently seen fluctuations, with a 12-month high at $194.32 and a market cap of $26.53 billion.
• Analysts have raised their price targets for Futu, with Barclays setting a new target of $232.00 and a consensus rating of "Buy" from multiple brokerages.

Price T Rowe Associates Inc. MD lifted its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 30.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,786,247 shares of the company's stock after purchasing an additional 417,620 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.28% of Futu worth $182,824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Erste Asset Management GmbH acquired a new position in Futu in the 1st quarter valued at about $1,036,000. China Universal Asset Management Co. Ltd. lifted its holdings in Futu by 1,137.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company's stock valued at $1,791,000 after acquiring an additional 16,086 shares during the last quarter. Yong Rong HK Asset Management Ltd acquired a new position in Futu in the first quarter valued at approximately $77,172,000. Hsbc Holdings PLC grew its position in Futu by 5.5% in the first quarter. Hsbc Holdings PLC now owns 386,028 shares of the company's stock worth $39,505,000 after acquiring an additional 20,202 shares during the period. Finally, Trivest Advisors Ltd acquired a new stake in Futu during the first quarter worth $98,651,000.

Analyst Ratings Changes

Several equities analysts have recently commented on FUTU shares. Citigroup upped their price target on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. boosted their price objective on shares of Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday. Daiwa America raised shares of Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. Daiwa Capital Markets initiated coverage on shares of Futu in a research report on Monday, August 11th. They set a "buy" rating and a $190.00 price target for the company. Finally, Bank of America boosted their price target on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $190.43.

Futu Stock Down 0.3%

Futu stock traded down $0.51 during mid-day trading on Friday, reaching $185.60. 2,312,874 shares of the company's stock were exchanged, compared to its average volume of 2,417,775. Futu Holdings Limited Sponsored ADR has a twelve month low of $56.22 and a twelve month high of $197.35. The company has a market cap of $25.82 billion, a P/E ratio of 25.74, a P/E/G ratio of 0.82 and a beta of 0.49. The company has a fifty day moving average of $153.85 and a 200-day moving average of $121.48.

Futu (NASDAQ:FUTU - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.01. Futu had a return on equity of 26.36% and a net margin of 44.25%.The firm had revenue of $603.43 million during the quarter, compared to analyst estimates of $594.86 million. Equities research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

About Futu

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.