UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 888,760 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• UBS Asset Management significantly increased its stake in Futu Holdings, acquiring an additional 888,760 shares during the 1st quarter, resulting in total holdings of 989,367 shares valued at approximately $101.26 million.
• Analysts have raised their price targets for Futu, with firms like JPMorgan Chase increasing their target from $200 to $270, and Citigroup adjusting theirs from $176 to $190.
• Futu Holdings has seen notable stock performance, reaching a 52-week high of $199.86 while maintaining a market cap of $25.86 billion.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 883.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 989,367 shares of the company's stock after buying an additional 888,760 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.71% of Futu worth $101,262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. bought a new stake in Futu during the 1st quarter worth about $26,000. Allianz SE bought a new stake in Futu during the 1st quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $36,000 after purchasing an additional 197 shares during the period. SVB Wealth LLC bought a new stake in shares of Futu in the 1st quarter valued at about $40,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Futu in the 4th quarter valued at about $60,000.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FUTU. Citigroup upped 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. Dbs Bank raised shares of Futu to a "moderate buy" rating in a report on Thursday, September 4th. Daiwa America raised shares of Futu to a "strong-buy" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. upped their target price on shares of Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Finally, Daiwa Capital Markets began coverage on shares of Futu in a report on Monday, August 11th. They issued a "buy" rating and a $190.00 target price on the stock. One 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. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $190.43.

Futu Stock Performance

Shares of FUTU opened at $185.89 on Friday. Futu Holdings Limited Sponsored ADR has a 52 week low of $56.36 and a 52 week high of $199.86. The firm has a market cap of $25.86 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 0.83 and a beta of 0.57. The firm's 50-day simple moving average is $167.14 and its 200 day simple moving average is $126.31.

About Futu

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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