Strs Ohio Makes New $2.78 Million Investment in 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 bought a new stake in shares of 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 bought 27,192 shares of the company's stock, valued at approximately $2,783,000.

Other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors Inc. acquired a new position in Futu during the first quarter worth $26,000. Geneos Wealth Management Inc. purchased a new stake in shares of Futu in the first quarter valued at about $27,000. Allianz SE purchased a new stake in shares of Futu in the first quarter valued at about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock worth $36,000 after buying an additional 197 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in Futu during the first quarter worth about $40,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Dbs Bank upgraded shares of Futu to a "moderate buy" rating in a research report on Thursday, September 4th. Bank of America increased their target price on shares of Futu from $172.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Barclays increased their target price on shares of Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Finally, Daiwa Capital Markets initiated coverage on shares of Futu in a research report on Monday, August 11th. They issued a "buy" rating and a $190.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $190.43.

Futu Stock Performance

FUTU stock opened at $180.67 on Tuesday. The company has a market capitalization of $25.14 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 0.82 and a beta of 0.57. Futu Holdings Limited Sponsored ADR has a one year low of $57.48 and a one year high of $199.86. The company's 50 day moving average price is $168.29 and its two-hundred day moving average price is $126.91.

Futu Company 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.

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