Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by National Bank of Canada FI

National Bank of Canada FI decreased its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 564,000 shares of the company’s stock after selling 30,502 shares during the period. National Bank of Canada FI owned approximately 0.41% of Futu worth $69,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. LFA Lugano Financial Advisors SA bought a new stake in Futu during the second quarter worth approximately $28,000. Hantz Financial Services Inc. boosted its stake in shares of Futu by 4,116.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock worth $31,000 after acquiring an additional 247 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Futu in the 1st quarter worth $27,000. First Horizon Advisors Inc. acquired a new stake in shares of Futu during the second quarter worth $35,000. Finally, SVB Wealth LLC acquired a new stake in shares of Futu during the first quarter worth $40,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research note on Wednesday, October 8th. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Bank of America upped their price target on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Dbs Bank raised shares of Futu to a “moderate buy” rating in a research note on Thursday, September 4th. Finally, Citigroup lifted their price objective on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Futu has a consensus rating of “Buy” and a consensus price target of $203.67.

Futu Stock Performance

FUTU stock opened at $171.45 on Monday. The firm has a 50 day simple moving average of $173.46 and a 200 day simple moving average of $160.20. Futu Holdings Limited Sponsored ADR has a 52 week low of $70.60 and a 52 week high of $202.53. The stock has a market cap of $23.86 billion, a P/E ratio of 19.20, a P/E/G ratio of 0.56 and a beta of 0.19.

Futu (NASDAQ:FUTU) last released its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.39. The company had revenue of $822.80 million during the quarter, compared to the consensus estimate of $631.51 million. Futu had a net margin of 47.11% and a return on equity of 30.59%. Sell-side analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Futu 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.