Mitsubishi UFJ Asset Management Co. Ltd. Has $5.44 Million Stock Position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 39.5% during the first quarter, HoldingsChannel reports. The fund owned 53,170 shares of the company’s stock after buying an additional 15,060 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Futu were worth $5,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FUTU. Trivest Advisors Ltd bought a new stake in Futu during the 1st quarter worth $98,651,000. Yong Rong HK Asset Management Ltd bought a new stake in Futu during the 1st quarter worth $77,172,000. Point72 Hong Kong Ltd grew 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 acquiring an additional 523,808 shares during the last quarter. Ninety One UK Ltd bought a new stake in Futu during the 1st quarter worth $42,903,000. Finally, Jennison Associates LLC bought a new stake in Futu during the 1st quarter worth $42,610,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FUTU shares. Daiwa Capital Markets started coverage on Futu in a research report on Monday. They set a “buy” rating and a $190.00 price objective on the stock. Bank of America upped their price target on Futu from $123.70 to $143.90 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Barclays assumed coverage on Futu in a research report on Thursday, July 17th. They issued an “overweight” rating and a $176.00 price target on the stock. Finally, Citigroup upped their price target on Futu from $113.00 to $176.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.13.

Futu Trading Up 3.6%

NASDAQ FUTU opened at $165.18 on Wednesday. The business’s 50-day moving average price is $136.44 and its two-hundred day moving average price is $114.18. Futu Holdings Limited Sponsored ADR has a 12 month low of $56.22 and a 12 month high of $174.36. The firm has a market capitalization of $22.98 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 0.99 and a beta of 0.49.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data 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. The company had revenue of $603.43 million for the quarter, compared to the consensus estimate of $594.86 million. Futu had a return on equity of 23.07% and a net margin of 41.74%. As a group, analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

About Futu

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.