Futu Holdings Limited Sponsored ADR $FUTU Shares Purchased by Ethic Inc.

Ethic Inc. boosted its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 48.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,998 shares of the company’s stock after acquiring an additional 2,607 shares during the period. Ethic Inc.’s holdings in Futu were worth $827,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its position in Futu by 2.0% in the 4th quarter. Mackenzie Financial Corp now owns 4,475 shares of the company’s stock valued at $358,000 after acquiring an additional 87 shares during the period. Voya Investment Management LLC increased its position in Futu by 1.6% during the 4th quarter. Voya Investment Management LLC now owns 9,549 shares of the company’s stock worth $764,000 after purchasing an additional 153 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Futu by 77.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock worth $36,000 after purchasing an additional 197 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Futu by 1.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,000 shares of the company’s stock worth $2,047,000 after purchasing an additional 220 shares during the period. Finally, Atlas Capital Advisors Inc. acquired a new position in Futu during the 1st quarter worth approximately $26,000.

Futu Price Performance

FUTU opened at $178.66 on Thursday. The stock has a market cap of $24.86 billion, a P/E ratio of 29.78, a P/E/G ratio of 1.04 and a beta of 0.49. The stock’s 50 day simple moving average is $144.21 and its 200 day simple moving average is $117.24. Futu Holdings Limited Sponsored ADR has a 1-year low of $56.22 and a 1-year high of $179.17.

Futu (NASDAQ:FUTU) last released its quarterly 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. The business had revenue of $603.43 million for the quarter, compared to analysts’ expectations of $594.86 million. Futu had a return on equity of 23.07% and a net margin of 41.74%. Research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FUTU. Bank of America boosted their target price on Futu from $123.70 to $143.90 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. Citigroup boosted their target price on Futu from $113.00 to $176.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Barclays began coverage on Futu in a research report on Thursday, July 17th. They set an “overweight” rating and a $176.00 target price on the stock. Daiwa Capital Markets started coverage on Futu in a research report on Monday, August 11th. They set a “buy” rating and a $190.00 target price on the stock. Finally, Daiwa America upgraded Futu to a “strong-buy” rating in a report on Tuesday, August 12th. One research 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. According to data from MarketBeat.com, Futu presently has an average rating of “Buy” and a consensus price target of $158.13.

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.