QRG Capital Management Inc. Has $2.53 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• QRG Capital Management Inc. has significantly increased its stake in Futu Holdings Limited, raising its holdings by 314.1% to a total value of $2.53 million after acquiring additional shares in the second quarter.
• Wall Street analysts have a generally positive outlook on Futu, with ratings ranging from "Strong Buy" to "Overweight," and an average target price of $190.43, indicating expectations for growth.
• As of the latest data, Futu's stock is trading at $170.93 with a market capitalization of $23.78 billion, reflecting a significant uptrend from its 12-month low of $70.60.

QRG Capital Management Inc. raised its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 314.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,479 shares of the company's stock after buying an additional 15,534 shares during the period. QRG Capital Management Inc.'s holdings in Futu were worth $2,531,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lifestyle Asset Management Inc. increased its holdings in shares of Futu by 2.1% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 3,971 shares of the company's stock worth $491,000 after acquiring an additional 83 shares during the last quarter. GAMMA Investing LLC boosted its position in Futu by 15.9% during the second quarter. GAMMA Investing LLC now owns 1,026 shares of the company's stock worth $127,000 after purchasing an additional 141 shares during the period. Smartleaf Asset Management LLC boosted its position in Futu by 38.7% during the first quarter. Smartleaf Asset Management LLC now owns 616 shares of the company's stock worth $64,000 after purchasing an additional 172 shares during the period. Platinum Investment Management Ltd. lifted its stake in shares of Futu by 8.9% during the 2nd quarter. Platinum Investment Management Ltd. now owns 2,624 shares of the company's stock worth $324,000 after buying an additional 214 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Futu by 1.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,000 shares of the company's stock worth $2,047,000 after buying an additional 220 shares during the last quarter.

Wall Street Analysts Forecast Growth

FUTU has been the topic of several research analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Futu in a report on Saturday, September 27th. Citigroup upped their target price on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Daiwa America upgraded Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. Barclays boosted their price target on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Futu from $200.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Futu has an average rating of "Moderate Buy" and a consensus target price of $190.43.

Futu Stock Down 1.2%

Shares of Futu stock opened at $170.93 on Wednesday. The company has a market capitalization of $23.78 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 0.76 and a beta of 0.48. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $199.86. The firm's 50-day moving average price is $174.59 and its two-hundred day moving average price is $133.61.

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.

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