China Universal Asset Management Co. Ltd. Boosts Position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

China Universal Asset Management Co. Ltd. boosted its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 1,137.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,500 shares of the company’s stock after buying an additional 16,086 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Futu were worth $1,791,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership purchased a new position in Futu during the 4th quarter worth approximately $116,315,000. Hhlr Advisors LTD. raised its position in Futu by 6.4% during the 4th quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company’s stock worth $89,453,000 after buying an additional 67,214 shares during the last quarter. Point72 Hong Kong Ltd raised its position in Futu by 170.6% during the 4th quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company’s stock worth $66,459,000 after buying an additional 523,808 shares during the last quarter. Yong Rong HK Asset Management Ltd purchased a new position in Futu during the 1st quarter worth approximately $77,172,000. Finally, Geode Capital Management LLC raised its position in Futu by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 567,635 shares of the company’s stock worth $44,890,000 after buying an additional 21,686 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Futu Price Performance

NASDAQ:FUTU opened at $123.13 on Tuesday. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 0.96 and a beta of 0.60. The company has a 50 day moving average price of $110.99 and a 200-day moving average price of $101.51. Futu Holdings Limited Sponsored ADR has a 1-year low of $51.80 and a 1-year high of $130.88.

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

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.