SG Americas Securities LLC Has $1.98 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

SG Americas Securities LLC lessened its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 95.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,042 shares of the company’s stock after selling 341,953 shares during the quarter. SG Americas Securities LLC’s holdings in Futu were worth $1,983,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FUTU. LFA Lugano Financial Advisors SA bought a new position in Futu in the 2nd quarter valued at about $28,000. Atlas Capital Advisors Inc. bought a new position in Futu in the first quarter valued at approximately $26,000. Hantz Financial Services Inc. increased its stake in Futu by 4,116.7% in the second quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 247 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in Futu during the first quarter valued at approximately $27,000. Finally, First Horizon Advisors Inc. bought a new stake in Futu during the second quarter worth $35,000.

Wall Street Analyst Weigh In

FUTU has been the subject of a number of research analyst reports. Bank of America boosted their price target on Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Daiwa Capital Markets initiated coverage on Futu in a research report on Monday, August 11th. They issued a “buy” rating and a $190.00 target price on the stock. Daiwa America raised shares of Futu to a “strong-buy” rating in a report on Tuesday, August 12th. Citigroup lifted their price target on shares of Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $203.00.

Futu Price Performance

Futu stock opened at $165.90 on Thursday. The business has a 50 day moving average of $175.47 and a 200-day moving average of $152.50. The company has a market capitalization of $23.08 billion, a P/E ratio of 18.58, a P/E/G ratio of 0.60 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53.

Futu (NASDAQ:FUTU) last posted its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.39. The firm had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. Futu had a net margin of 47.11% and a return on equity of 32.19%. Equities analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

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.