DNB Asset Management AS Raises Holdings in Futu Holdings Limited Sponsored ADR $FUTU

DNB Asset Management AS grew its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 71.6% in the fourth quarter, HoldingsChannel reports. The firm owned 20,033 shares of the company’s stock after buying an additional 8,361 shares during the quarter. DNB Asset Management AS’s holdings in Futu were worth $3,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FUTU. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Futu by 805.2% during the third 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. AGF Management Ltd. purchased a new position in shares of Futu during the third quarter valued at about $149,432,000. Tredje AP fonden grew its position in shares of Futu by 3,579.1% during the third quarter. Tredje AP fonden now owns 688,000 shares of the company’s stock valued at $119,650,000 after purchasing an additional 669,300 shares in the last quarter. 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 valued at $83,938,000 after purchasing an additional 511,162 shares in the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. purchased a new position in shares of Futu during the third quarter valued at about $64,250,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FUTU shares. The Goldman Sachs Group set a $205.00 price objective on Futu in a research report on Monday, May 4th. Barclays dropped their price target on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. Finally, Zacks Research lowered Futu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Futu currently has an average rating of “Moderate Buy” and a consensus price target of $209.17.

Futu Trading Down 5.5%

FUTU opened at $124.50 on Wednesday. The firm has a market cap of $17.45 billion, a P/E ratio of 12.11, a P/E/G ratio of 0.92 and a beta of 0.52. Futu Holdings Limited Sponsored ADR has a 12 month low of $100.50 and a 12 month high of $202.53. The stock has a 50-day moving average of $147.69 and a 200 day moving average of $159.74.

Futu (NASDAQ:FUTU) last released its quarterly earnings results on Sunday, February 15th. The company reported $3.07 EPS for the quarter. The company had revenue of $771.00 million during the quarter. Futu had a return on equity of 32.24% and a net margin of 49.63%. On average, research analysts forecast that Futu Holdings Limited Sponsored ADR will post 11.78 earnings per share for the current fiscal year.

Futu Announces Dividend

The firm also recently announced a special dividend, which was paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th were given a dividend of $2.60 per share. The ex-dividend date was Thursday, April 16th. Futu’s payout ratio is 24.81%.

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.