Vident Advisory LLC Purchases 3,969 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Vident Advisory LLC raised its stake in Futu Holdings Limited by 19.1%, owning a total of 24,715 shares worth approximately $2.53 million following an increase of 3,969 shares in the first quarter.
• Multiple institutional investors have shown interest in Futu, with firms like Allianz SE and SVB Wealth LLC initiating new positions in the first quarter.
• Wall Street analysts maintain a consensus rating of “Buy” for Futu, with price targets ranging from $190.00 to $270.00, indicating strong expected growth for the company.

Vident Advisory LLC raised its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,715 shares of the company's stock after buying an additional 3,969 shares during the quarter. Vident Advisory LLC's holdings in Futu were worth $2,530,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Atlas Capital Advisors Inc. purchased a new position in shares of Futu in the 1st quarter valued at approximately $26,000. Allianz SE purchased a new position in shares of Futu in the 1st quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 purchased a new position in shares of Futu in the 1st quarter valued at approximately $40,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Futu in the 4th quarter valued at approximately $60,000.

Futu Stock Down 1.0%

Shares of Futu stock traded down $1.84 on Friday, reaching $187.28. The company's stock had a trading volume of 1,855,499 shares, compared to its average volume of 2,659,348. The company has a market capitalization of $26.06 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 0.86 and a beta of 0.57. The firm's fifty day simple moving average is $159.41 and its two-hundred day simple moving average is $123.36. Futu Holdings Limited Sponsored ADR has a 52 week low of $56.22 and a 52 week high of $199.86.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FUTU. Bank of America raised their target price on Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. raised their target price on Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Barclays lifted their price objective on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Daiwa America upgraded Futu to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Citigroup lifted their price objective on Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "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.