US Bancorp DE decreased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 40.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,928 shares of the company's stock after selling 4,641 shares during the quarter. US Bancorp DE's holdings in Futu were worth $856,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Lifestyle Asset Management Inc. increased its position in Futu by 2.1% during the second quarter. Lifestyle Asset Management Inc. now owns 3,971 shares of the company's stock worth $491,000 after acquiring an additional 83 shares during the period. GAMMA Investing LLC boosted its stake in shares of Futu by 15.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,026 shares of the company's stock valued at $127,000 after purchasing an additional 141 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in 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 buying an additional 172 shares in the last quarter. Platinum Investment Management Ltd. lifted its position in Futu by 8.9% during the 2nd quarter. Platinum Investment Management Ltd. now owns 2,624 shares of the company's stock worth $324,000 after buying an additional 214 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Futu by 1.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,000 shares of the company's stock worth $2,047,000 after purchasing an additional 220 shares during the last quarter.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Futu in a report on Wednesday, October 8th. Daiwa Capital Markets assumed coverage on Futu in a research report on Monday, August 11th. They set a "buy" rating and a $190.00 price target for the company. 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. Bank of America increased their price objective on Futu from $172.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, Zacks Research downgraded 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.
Get Our Latest Research Report on Futu
Futu Stock Up 4.4%
Futu stock opened at $163.53 on Friday. The business's 50-day moving average price is $176.18 and its two-hundred day moving average price is $136.80. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $199.86. The stock has a market cap of $22.75 billion, a PE ratio of 22.68, a P/E/G ratio of 0.71 and a beta of 0.48.
Futu Profile
(
Free Report)
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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