Livforsakringsbolaget Skandia Omsesidigt Invests $1.73 Million in Futu Holdings Limited Sponsored ADR $FUTU

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,500 shares of the company’s stock, valued at approximately $1,734,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FUTU. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Futu by 805.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock valued at $195,933,000 after purchasing an additional 1,002,171 shares in the last quarter. Aspex Management HK Ltd boosted its stake in shares of Futu by 37.5% during the 4th quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock valued at $553,650,000 after buying an additional 919,724 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Futu during the second quarter worth approximately $61,574,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Futu by 25,558,100.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 511,164 shares of the company’s stock worth $83,938,000 after buying an additional 511,162 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Futu by 166.4% in the second quarter. BNP Paribas Financial Markets now owns 455,266 shares of the company’s stock worth $56,266,000 after buying an additional 284,387 shares during the last quarter.

Futu Price Performance

Shares of FUTU opened at $124.26 on Friday. Futu Holdings Limited Sponsored ADR has a 12 month low of $80.50 and a 12 month high of $202.53. The stock has a fifty day moving average price of $104.25 and a 200 day moving average price of $125.10. The company has a market cap of $17.42 billion, a P/E ratio of 12.30, a PEG ratio of 1.39 and a beta of 0.43.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Thursday, August 20th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.35. The company had revenue of $852.66 million during the quarter, compared to the consensus estimate of $786.07 million. Futu had a net margin of 42.95% and a return on equity of 28.20%. As a group, research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 9.44 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on FUTU shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $170.50 price target on shares of Futu in a report on Thursday, May 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $87.00 target price (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. The Goldman Sachs Group lowered shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price on the stock. in a research note on Monday, May 25th. Zacks Research upgraded Futu from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Wall Street Zen raised Futu from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Futu has a consensus rating of “Hold” and an average target price of $139.91.

Futu Company Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.