Candriam S.C.A. Has $23.27 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Candriam S.C.A. lowered its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTUFree Report) by 35.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 227,392 shares of the company’s stock after selling 122,708 shares during the quarter. Candriam S.C.A. owned about 0.16% of Futu worth $23,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atlas Capital Advisors Inc. acquired a new stake in shares of Futu during the first quarter worth $26,000. Allianz SE bought a new position in Futu in the first quarter valued at about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Futu by 77.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock valued at $36,000 after acquiring an additional 197 shares during the last quarter. Spire Wealth Management grew its position in Futu by 2,066.7% in the first quarter. Spire Wealth Management now owns 650 shares of the company’s stock valued at $67,000 after acquiring an additional 620 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Futu in the fourth quarter valued at about $60,000.

Futu Trading Up 6.0%

FUTU opened at $178.66 on Thursday. Futu Holdings Limited Sponsored ADR has a 1-year low of $56.22 and a 1-year high of $179.17. The company has a market cap of $24.86 billion, a P/E ratio of 29.78, a price-to-earnings-growth ratio of 1.04 and a beta of 0.49. The company has a fifty day moving average price of $144.21 and a two-hundred day moving average price of $117.24.

Futu (NASDAQ:FUTUGet Free Report) last issued its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. Futu had a return on equity of 23.07% and a net margin of 41.74%.The company had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. On average, research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FUTU shares. Daiwa Capital Markets started coverage on Futu in a research report on Monday, August 11th. They issued a “buy” rating and a $190.00 target price on the stock. Barclays started coverage on Futu in a research note on Thursday, July 17th. They issued an “overweight” rating and a $176.00 price objective for the company. Bank of America upped their price objective on Futu from $123.70 to $143.90 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Daiwa America raised Futu to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Citigroup upped their price objective on Futu from $113.00 to $176.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $158.13.

View Our Latest Research Report on Futu

About Futu

(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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Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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