TD Asset Management Inc Has $2.34 Million Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• TD Asset Management Inc has increased its stake in Futu Holdings by 9.7% in the second quarter, bringing its total holdings to approximately $2.34 million worth of the company's stock.
• Futu Holdings has seen a significant increase in interest from institutional investors, with several including Blue Trust Inc. and E Fund Management Hong Kong Co. Ltd. making substantial increases in their positions during the first quarter.
• Analysts are generally positive on Futu Holdings, with a consensus rating of "Moderate Buy" and an average price target of around $190.43, reflecting strong growth expectations.

TD Asset Management Inc increased its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 9.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,962 shares of the company's stock after purchasing an additional 1,678 shares during the quarter. TD Asset Management Inc's holdings in Futu were worth $2,344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FUTU. Blue Trust Inc. lifted its holdings in Futu by 54.7% in the 1st quarter. Blue Trust Inc. now owns 1,897 shares of the company's stock worth $194,000 after purchasing an additional 671 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in Futu in the 1st quarter worth approximately $2,037,000. Asset Management One Co. Ltd. lifted its holdings in Futu by 2.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 22,125 shares of the company's stock worth $2,264,000 after purchasing an additional 615 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Futu by 167.1% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 2,276 shares of the company's stock worth $233,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in Futu by 2,066.7% in the 1st quarter. Spire Wealth Management now owns 650 shares of the company's stock worth $67,000 after purchasing an additional 620 shares during the last quarter.

Futu Price Performance

Shares of Futu stock opened at $169.21 on Wednesday. Futu Holdings Limited Sponsored ADR has a 52-week low of $70.60 and a 52-week high of $199.86. The firm has a market capitalization of $23.54 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 0.73 and a beta of 0.48. The company's fifty day moving average price is $176.43 and its two-hundred day moving average price is $137.88.

Wall Street Analyst Weigh In

FUTU has been the subject of a number of research analyst reports. Daiwa America upgraded Futu to a "strong-buy" rating in a report on Tuesday, August 12th. Dbs Bank upgraded Futu to a "moderate buy" rating in a report on Thursday, September 4th. Daiwa Capital Markets initiated coverage on Futu in a report on Monday, August 11th. They set a "buy" rating and a $190.00 price target for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Futu in a report on Wednesday, October 8th. Finally, Zacks Research lowered Futu from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.

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