Trexquant Investment LP Takes Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Trexquant Investment LP has made a new investment of approximately $3.21 million in Futu Holdings Limited, acquiring 31,355 shares of the company during the first quarter.
• Analysts have set new price targets for Futu, with Citigroup, JPMorgan Chase, and Barclays raising their targets significantly, now ranging from $190 to $270, reflecting a generally positive outlook.
• Futu Holdings Limited currently has a market capitalization of $26.02 billion and is trading at $186.98, after experiencing a recent surge due to market stimulus hints.

Trexquant Investment LP acquired a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 31,355 shares of the company's stock, valued at approximately $3,209,000.

Several other institutional investors and hedge funds have also bought and sold shares of FUTU. Raymond James Financial Inc. bought a new position in Futu during the fourth quarter worth $786,000. MetLife Investment Management LLC raised its holdings in Futu by 10.2% during the fourth quarter. MetLife Investment Management LLC now owns 6,500 shares of the company's stock worth $520,000 after buying an additional 600 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Futu by 4,876.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,588 shares of the company's stock worth $207,000 after buying an additional 2,536 shares during the last quarter. Stifel Financial Corp acquired a new position in Futu during the fourth quarter worth $349,000. Finally, Voya Investment Management LLC raised its holdings in Futu by 1.6% during the fourth quarter. Voya Investment Management LLC now owns 9,549 shares of the company's stock worth $764,000 after buying an additional 153 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on FUTU shares. Daiwa America upgraded shares of Futu to a "strong-buy" rating in a report on Tuesday, August 12th. Barclays increased their target price on shares of Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Citigroup increased their target price on shares of 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 shares of Futu in a report on Monday, August 11th. They issued a "buy" rating and a $190.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Futu from $200.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $190.43.

Futu Stock Down 1.0%

NASDAQ FUTU traded down $1.84 during trading hours on Friday, reaching $187.28. 1,894,440 shares of the company were exchanged, compared to its average volume of 2,252,297. The stock has a market capitalization of $26.06 billion, a P/E ratio of 25.98, a P/E/G ratio of 0.83 and a beta of 0.57. The business's 50 day simple moving average is $160.73 and its 200-day simple moving average is $123.82. Futu Holdings Limited Sponsored ADR has a 1 year low of $56.22 and a 1 year high of $199.86.

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.