Tredje AP fonden Cuts Holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Tredje AP fonden decreased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 49.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,200 shares of the company’s stock after selling 20,400 shares during the period. Tredje AP fonden’s holdings in Futu were worth $2,170,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of FUTU. Trivest Advisors Ltd purchased a new stake in shares of Futu during the first quarter valued at approximately $98,651,000. Yong Rong HK Asset Management Ltd bought a new position in Futu in the 1st quarter valued at $77,172,000. Point72 Hong Kong Ltd increased its position in shares of Futu by 170.6% during the 4th quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company’s stock valued at $66,459,000 after purchasing an additional 523,808 shares during the last quarter. Norges Bank purchased a new stake in shares of Futu during the 4th quarter valued at $39,163,000. Finally, Ninety One UK Ltd bought a new position in Futu during the first quarter valued at about $42,903,000.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Futu from $113.00 to $176.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Bank of America increased their price objective on Futu from $123.70 to $143.90 and gave the company a “buy” rating in a report on Wednesday, June 11th. Finally, Barclays started coverage on Futu in a research note on Thursday, July 17th. They issued an “overweight” rating and a $176.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Futu presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.82.

Futu Trading Down 2.8%

Shares of FUTU stock opened at $150.94 on Thursday. The firm’s 50 day moving average is $127.81 and its 200 day moving average is $109.67. The stock has a market capitalization of $21.00 billion, a P/E ratio of 25.16, a PEG ratio of 1.22 and a beta of 0.60. Futu Holdings Limited Sponsored ADR has a 12 month low of $51.80 and a 12 month high of $174.36.

Futu (NASDAQ:FUTU) last issued its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (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 for the quarter, compared to analysts’ expectations of $594.86 million. On average, equities analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current 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.