Sylebra Capital LLC Purchases Shares of 74,537 Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Sylebra Capital LLC has invested approximately $7.63 million in Futu Holdings, purchasing 74,537 shares during the first quarter, marking the company's 23rd largest position at 0.4% of the portfolio.
• Multiple institutional investors, including Hhlr Advisors and Point72 Hong Kong, have significantly increased their stakes in Futu, indicating growing confidence in the company.
• Futu's stock has recently been rated with a "buy" or "strong buy" by multiple analysts, with an average price target of $190.43 amidst a current share price of $187.28.

Sylebra Capital LLC acquired a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 74,537 shares of the company's stock, valued at approximately $7,629,000. Futu comprises 0.4% of Sylebra Capital LLC's holdings, making the stock its 23rd largest position. Sylebra Capital LLC owned 0.05% of Futu as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mackenzie Financial Corp boosted its position in Futu by 2.0% in the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company's stock worth $358,000 after purchasing an additional 87 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Futu by 38.7% during the 1st 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after buying an additional 197 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Futu by 1.1% during the first 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. Finally, Atlas Capital Advisors Inc. bought a new stake in Futu in the first quarter worth about $26,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FUTU shares. JPMorgan Chase & Co. increased their target price on shares of Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Citigroup increased 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. Daiwa Capital Markets initiated coverage on Futu in a research note on Monday, August 11th. They issued a "buy" rating and a $190.00 target price on the stock. Daiwa America raised Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Dbs Bank raised Futu to a "moderate buy" rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $190.43.

Futu Trading Down 3.5%

Shares of NASDAQ FUTU traded down $6.60 during mid-day trading on Wednesday, hitting $181.48. The company had a trading volume of 2,972,614 shares, compared to its average volume of 2,264,727. Futu Holdings Limited Sponsored ADR has a 1 year low of $56.22 and a 1 year high of $199.86. The company has a market capitalization of $25.25 billion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 0.83 and a beta of 0.57. The stock's 50-day moving average price is $163.34 and its 200-day moving average price is $124.75.

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.