Taikang Asset Management Hong Kong Co Ltd Has $6.38 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Taikang Asset Management Hong Kong Co Ltd significantly increased its stake in Futu Holdings by 6,970.4% in Q1, now owning 62,361 shares valued at $6.38 million.
• Futu's stock recently rose 5.6%, with a current market price of $190.64 and analysts projecting a consensus rating of "Buy" with an average target price of $176.14.
• In its latest earnings report, Futu exceeded expectations with $1.96 EPS and $603.43 million in revenue, reflecting strong growth in the digital brokerage sector.

Taikang Asset Management Hong Kong Co Ltd increased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 6,970.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,361 shares of the company's stock after purchasing an additional 61,479 shares during the period. Taikang Asset Management Hong Kong Co Ltd's holdings in Futu were worth $6,383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its holdings in shares of Futu by 2.0% in the 4th 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. Voya Investment Management LLC lifted its stake in Futu by 1.6% in the fourth quarter. Voya Investment Management LLC now owns 9,549 shares of the company's stock valued at $764,000 after buying an additional 153 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Futu by 38.7% during the first quarter. Smartleaf Asset Management LLC now owns 616 shares of the company's stock valued at $64,000 after acquiring an additional 172 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Futu by 77.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock worth $36,000 after acquiring an additional 197 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Futu by 1.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,000 shares of the company's stock valued at $2,047,000 after purchasing an additional 220 shares during the last quarter.

Futu Price Performance

NASDAQ FUTU traded up $2.18 on Thursday, hitting $186.11. 2,228,022 shares of the stock were exchanged, compared to its average volume of 2,448,538. The company's 50-day moving average price is $151.15 and its two-hundred day moving average price is $120.35. Futu Holdings Limited Sponsored ADR has a 52-week low of $56.22 and a 52-week high of $197.35. The company has a market capitalization of $25.90 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 0.80 and a beta of 0.49.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.01. The business had revenue of $603.43 million during the quarter, compared to analyst estimates of $594.86 million. Futu had a net margin of 44.25% and a return on equity of 26.36%. Equities analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FUTU. Daiwa Capital Markets initiated coverage on Futu in a research note on Monday, August 11th. They issued a "buy" rating and a $190.00 price target for the company. Citigroup increased their target price on shares of 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 shares of Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. increased their price objective on shares of Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Bank of America raised their price objective on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $190.43.

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.