AGF Management Ltd. Makes New $149.43 Million Investment in Futu Holdings Limited Sponsored ADR $FUTU

AGF Management Ltd. purchased a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 859,251 shares of the company’s stock, valued at approximately $149,432,000. AGF Management Ltd. owned 0.62% of Futu at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FUTU. Asset Management One Co. Ltd. increased its holdings in shares of Futu by 0.4% in the 2nd quarter. Asset Management One Co. Ltd. now owns 22,219 shares of the company’s stock worth $2,746,000 after buying an additional 94 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in Futu by 2.7% during the second quarter. Ensign Peak Advisors Inc now owns 3,800 shares of the company’s stock worth $470,000 after acquiring an additional 100 shares during the last quarter. Cerity Partners LLC raised its position in Futu by 4.6% during the second quarter. Cerity Partners LLC now owns 2,729 shares of the company’s stock valued at $337,000 after purchasing an additional 120 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of Futu by 15.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the company’s stock valued at $144,000 after purchasing an additional 155 shares during the last quarter. Finally, Cooper Investors PTY Ltd. purchased a new position in shares of Futu in the 3rd quarter worth approximately $29,000.

Futu Price Performance

Shares of NASDAQ:FUTU opened at $162.57 on Monday. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53. The firm has a market capitalization of $22.62 billion, a PE ratio of 18.20, a P/E/G ratio of 0.42 and a beta of 0.43. The business’s 50 day moving average price is $169.70 and its 200-day moving average price is $172.06.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.39. The business had revenue of $822.80 million during the quarter, compared to analysts’ expectations of $631.51 million. Futu had a return on equity of 30.59% and a net margin of 47.11%. As a group, analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FUTU shares. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. The Goldman Sachs Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price target on the stock in a report on Monday. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Barclays raised their target price on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $205.06.

Futu 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.