E Fund Management Hong Kong Co. Ltd. Buys 1,424 Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

E Fund Management Hong Kong Co. Ltd. boosted its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 167.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,276 shares of the company’s stock after acquiring an additional 1,424 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in Futu were worth $233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Futu in the 4th quarter worth about $116,315,000. Hhlr Advisors LTD. grew its stake in Futu by 6.4% during the fourth quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company’s stock worth $89,453,000 after purchasing an additional 67,214 shares during the period. Point72 Hong Kong Ltd grew its stake in Futu by 170.6% during the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company’s stock worth $66,459,000 after purchasing an additional 523,808 shares during the period. Geode Capital Management LLC increased its holdings in Futu by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 567,635 shares of the company’s stock worth $44,890,000 after purchasing an additional 21,686 shares in the last quarter. Finally, Norges Bank acquired a new position in Futu in the fourth quarter valued at approximately $39,163,000.

Futu Stock Down 1.4%

Shares of NASDAQ:FUTU opened at $112.75 on Tuesday. Futu Holdings Limited Sponsored ADR has a twelve month low of $51.80 and a twelve month high of $130.88. The stock’s 50 day moving average is $103.60 and its 200-day moving average is $99.02. The firm has a market capitalization of $15.69 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 0.91 and a beta of 0.58.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.01. Futu had a net margin of 41.74% and a return on equity of 23.07%. The business had revenue of $603.43 million during the quarter, compared to analyst estimates of $594.86 million. Equities research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on FUTU. JPMorgan Chase & Co. increased their price target on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Bank of America raised their price target on shares of Futu from $123.70 to $143.90 and gave the stock a “buy” rating in a report on Wednesday, June 11th. Finally, UBS Group lifted their price target on shares of Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Futu presently has an average rating of “Moderate Buy” and a consensus price target of $131.98.

Futu 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.