Strs Ohio Buys Shares of 27,192 Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Strs Ohio has invested approximately $2.78 million in Futu Holdings Limited, acquiring 27,192 shares during the first quarter.
• Several other institutional investors have also recently taken positions in Futu, indicating growing interest in the company.
• Analysts have raised their price targets for Futu, with Bank of America setting a target at $200 and Barclays at $232, reflecting an overall positive market outlook.

Strs Ohio purchased a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 27,192 shares of the company's stock, valued at approximately $2,783,000.

A number of other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new position in Futu in the 1st quarter worth about $27,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Futu by 883.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company's stock valued at $101,262,000 after purchasing an additional 888,760 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Futu during the 1st quarter valued at about $16,112,000. Goldman Sachs Group Inc. raised its stake in Futu by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company's stock worth $46,997,000 after acquiring an additional 16,255 shares during the period. Finally, Sylebra Capital LLC bought a new stake in Futu during the 1st quarter worth approximately $7,629,000.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FUTU. Daiwa Capital Markets started coverage on shares of Futu in a research report on Monday, August 11th. They issued a "buy" rating and a $190.00 price target for the company. JPMorgan Chase & Co. upped their price target on Futu from $200.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Barclays upped their price target on Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Citigroup upped their price target on Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Finally, Bank of America upped their price target on Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $190.43.

Futu Stock Up 2.3%

FUTU traded up $4.07 during trading on Friday, reaching $177.99. The company had a trading volume of 2,123,243 shares, compared to its average volume of 2,038,337. The stock has a market cap of $24.77 billion, a P/E ratio of 24.69, a PEG ratio of 0.77 and a beta of 0.57. The business has a 50 day simple moving average of $171.02 and a 200-day simple moving average of $128.55. Futu Holdings Limited Sponsored ADR has a 52 week low of $65.18 and a 52 week high of $199.86.

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.