Futu Holdings Limited Sponsored ADR $FUTU Holdings Lifted by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 5.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 45,314 shares of the company’s stock after buying an additional 2,200 shares during the period. Public Sector Pension Investment Board’s holdings in Futu were worth $4,638,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FUTU. Atlas Capital Advisors Inc. bought a new position in Futu during the first quarter valued at about $26,000. Allianz SE bought a new position in Futu during the first quarter valued at about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock valued at $36,000 after buying an additional 197 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Futu in the 4th quarter valued at $60,000. Finally, Spire Wealth Management boosted its position in shares of Futu by 2,066.7% in the 1st quarter. Spire Wealth Management now owns 650 shares of the company’s stock valued at $67,000 after purchasing an additional 620 shares during the period.

Analysts Set New Price Targets

A number of research firms recently weighed in on FUTU. Barclays began coverage on Futu in a research report on Thursday, July 17th. They issued an “overweight” rating and a $176.00 price target for the company. Daiwa Capital Markets began coverage on Futu in a research report on Monday, August 11th. They issued a “buy” rating and a $190.00 price target for the company. Bank of America increased their price target on Futu from $123.70 to $143.90 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Citigroup increased their price target on Futu from $113.00 to $176.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Daiwa America upgraded Futu to a “strong-buy” rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $158.13.

Futu Trading Down 0.3%

Shares of Futu stock opened at $174.25 on Monday. The stock has a 50-day moving average price of $140.43 and a 200 day moving average price of $115.92. The company has a market cap of $24.25 billion, a P/E ratio of 29.04, a P/E/G ratio of 1.08 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 1 year low of $56.22 and a 1 year high of $179.17.

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

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.