Price T Rowe Associates Inc. MD raised its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 30.5% during the first quarter, according to its most recent disclosure with the Securities & 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 1.28% of Futu worth $182,824,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Erste Asset Management GmbH purchased a new stake in shares of Futu in the 1st quarter valued at $1,036,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Futu by 1,137.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company's stock valued at $1,791,000 after buying an additional 16,086 shares during the period. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Futu in the 1st quarter valued at $77,172,000. Trivest Advisors Ltd purchased a new stake in shares of Futu in the 1st quarter valued at $98,651,000. Finally, GAM Holding AG raised its holdings in shares of Futu by 41.7% in the 1st quarter. GAM Holding AG now owns 8,500 shares of the company's stock valued at $870,000 after buying an additional 2,500 shares during the period.
Futu Stock Performance
Shares of NASDAQ:FUTU traded up $2.18 on Thursday, hitting $186.11. 2,228,022 shares of the company's stock were exchanged, compared to its average volume of 2,683,461. The firm's 50-day moving average is $151.15 and its 200 day moving average is $120.35. The company has a market capitalization of $25.90 billion, a PE ratio of 25.81, a P/E/G ratio of 0.84 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 1-year low of $56.22 and a 1-year high of $197.35.
Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.01. The business had revenue of $603.43 million during the quarter, compared to analysts' expectations of $594.86 million. Futu had a return on equity of 26.36% and a net margin of 44.25%. On average, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Citigroup boosted their price objective on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. upped their price target on Futu from $200.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday. Bank of America upped their price target on Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Daiwa Capital Markets started coverage on Futu in a report on Monday, August 11th. They set a "buy" rating and a $190.00 price target on the stock. Finally, Daiwa America upgraded Futu to a "strong-buy" rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Futu has a consensus rating of "Buy" and an average price target of $190.43.
Get Our Latest Report on FUTU
Futu Company Profile
(
Free Report)
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.
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