WT Asset Management Ltd Buys 103,123 Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

WT Asset Management Ltd grew its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 68.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 253,100 shares of the company's stock after purchasing an additional 103,123 shares during the quarter. Futu accounts for 3.0% of WT Asset Management Ltd's portfolio, making the stock its 11th largest position. WT Asset Management Ltd owned about 0.18% of Futu worth $25,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FUTU. Norges Bank acquired a new position in Futu during the fourth quarter worth about $39,163,000. GF Fund Management CO. LTD. bought a new position in shares of Futu during the 4th quarter valued at about $11,482,000. GAM Holding AG grew its stake in shares of Futu by 41.7% in the 1st quarter. GAM Holding AG now owns 8,500 shares of the company's stock worth $870,000 after purchasing an additional 2,500 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Futu by 189.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company's stock worth $3,123,000 after purchasing an additional 25,557 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Futu by 89.8% in the 4th quarter. Northern Trust Corp now owns 348,413 shares of the company's stock worth $27,870,000 after purchasing an additional 164,892 shares in the last quarter.

Futu Stock Down 1.6%

Shares of Futu stock traded down $1.95 during trading on Tuesday, hitting $121.64. The stock had a trading volume of 1,078,051 shares, compared to its average volume of 2,902,853. Futu Holdings Limited Sponsored ADR has a 1 year low of $51.80 and a 1 year high of $130.88. The stock has a 50 day simple moving average of $107.72 and a 200 day simple moving average of $100.19. The company has a market capitalization of $16.92 billion, a PE ratio of 20.27, a P/E/G ratio of 0.96 and a beta of 0.58.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.01. The firm had revenue of $603.43 million for the quarter, compared to analysts' expectations of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. As a group, equities analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FUTU shares. Bank of America lifted their price target on shares of Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. raised their price objective on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Finally, UBS Group boosted their target price on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Futu currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.98.

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.