Blue Trust Inc. Has $281,000 Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Blue Trust Inc. increased its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 19.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,273 shares of the company’s stock after buying an additional 376 shares during the quarter. Blue Trust Inc.’s holdings in Futu were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Callan Family Office LLC lifted its stake in Futu by 14.0% during the second quarter. Callan Family Office LLC now owns 9,099 shares of the company’s stock worth $1,125,000 after purchasing an additional 1,114 shares during the period. KLP Kapitalforvaltning AS lifted its stake in Futu by 3.0% during the second quarter. KLP Kapitalforvaltning AS now owns 27,500 shares of the company’s stock worth $3,399,000 after purchasing an additional 800 shares during the period. QRG Capital Management Inc. lifted its stake in Futu by 314.1% during the second quarter. QRG Capital Management Inc. now owns 20,479 shares of the company’s stock worth $2,531,000 after purchasing an additional 15,534 shares during the period. Matthews International Capital Management LLC bought a new position in Futu during the second quarter worth about $2,809,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Futu by 14,928.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,767 shares of the company’s stock worth $4,420,000 after purchasing an additional 35,529 shares during the period.

Futu Price Performance

FUTU stock opened at $158.50 on Wednesday. The company has a 50 day moving average price of $176.08 and a 200 day moving average price of $135.63. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $70.60 and a fifty-two week high of $199.86. The stock has a market capitalization of $22.05 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 0.71 and a beta of 0.48.

Analyst Upgrades and Downgrades

FUTU has been the subject of a number of analyst reports. Citigroup raised their price target on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. raised their price target on shares of Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Barclays raised their price target on shares of Futu from $176.00 to $232.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. Bank of America lifted their target price on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Finally, Zacks Research cut shares of Futu from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.43.

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.