Hsbc Holdings PLC Increases Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Hsbc Holdings PLC raised its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 5.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 386,028 shares of the company’s stock after purchasing an additional 20,202 shares during the period. Hsbc Holdings PLC’s holdings in Futu were worth $39,505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Futu by 1,137.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company’s stock valued at $1,791,000 after purchasing an additional 16,086 shares in the last quarter. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Futu in the first quarter valued at about $77,172,000. Trivest Advisors Ltd purchased a new stake in shares of Futu in the first quarter valued at about $98,651,000. GAM Holding AG lifted its holdings in shares of Futu by 41.7% in the first quarter. GAM Holding AG now owns 8,500 shares of the company’s stock valued at $870,000 after purchasing an additional 2,500 shares in the last quarter. Finally, ARK Investment Management LLC purchased a new stake in shares of Futu in the first quarter valued at about $12,687,000.

Futu Stock Performance

Shares of FUTU stock opened at $190.64 on Friday. Futu Holdings Limited Sponsored ADR has a one year low of $56.22 and a one year high of $194.32. The company has a 50 day moving average price of $147.12 and a 200 day moving average price of $118.48. The firm has a market capitalization of $26.53 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.95 by $0.01. Futu had a net margin of 44.25% and a return on equity of 26.36%. The firm had revenue of $603.43 million during the quarter, compared to analyst estimates of $594.86 million. As a group, equities analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on FUTU shares. Barclays upped their price target on shares of Futu from $176.00 to $232.00 and gave the company an “overweight” rating in a report on Friday. Daiwa Capital Markets initiated coverage on shares of Futu in a research report on Monday, August 11th. They issued a “buy” rating and a $190.00 price objective for the company. Bank of America boosted their price objective on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup boosted their price objective on shares of Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Daiwa America raised shares of Futu to a “strong-buy” rating in a research report on Tuesday, August 12th. One investment 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’s stock. Based on data from MarketBeat, Futu presently has an average rating of “Buy” and a consensus target price of $176.14.

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.