Retirement Systems of Alabama Buys Shares of 19,901 Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Retirement Systems of Alabama acquired a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,901 shares of the company's stock, valued at approximately $2,037,000.

A number of other hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in Futu by 1,245.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock valued at $36,000 after buying an additional 411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Futu by 77.3% in 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. Rakuten Securities Inc. grew its stake in shares of Futu by 239.8% in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Futu during the fourth quarter worth about $60,000. Finally, Assetmark Inc. raised its stake in Futu by 15,200.0% in the 4th quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after purchasing an additional 760 shares in the last quarter.

Futu Stock Performance

Shares of Futu stock traded down $1.12 on Thursday, reaching $123.21. 1,646,692 shares of the stock were exchanged, compared to its average volume of 2,898,542. The firm's 50 day moving average is $105.15 and its 200-day moving average is $99.33. The firm has a market cap of $17.14 billion, a PE ratio of 20.54, a P/E/G ratio of 0.93 and a beta of 0.58. Futu Holdings Limited Sponsored ADR has a one year low of $51.80 and a one year high of $130.88.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. UBS Group raised their price objective on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Finally, Bank of America upped their target price on Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $131.98.

Futu 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.