Ethic Inc. Purchases 649 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Ethic Inc. increased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 8.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,647 shares of the company’s stock after purchasing an additional 649 shares during the quarter. Ethic Inc.’s holdings in Futu were worth $1,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FUTU. Atlas Capital Advisors Inc. bought a new position in Futu in the first quarter worth $26,000. Geneos Wealth Management Inc. bought a new position in Futu in the first quarter worth $27,000. Allianz SE bought a new position in shares of Futu during the first quarter valued at $30,000. SVB Wealth LLC bought a new position in shares of Futu during the first quarter valued at $40,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Futu by 38.7% during the first quarter. Smartleaf Asset Management LLC now owns 616 shares of the company’s stock valued at $64,000 after acquiring an additional 172 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research cut Futu from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Citigroup lifted their price objective on Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Daiwa Capital Markets assumed coverage on Futu in a report on Monday, August 11th. They set a “buy” rating and a $190.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a report on Saturday. Finally, JPMorgan Chase & Co. lifted their price objective on Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.43.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $178.38 on Monday. Futu Holdings Limited Sponsored ADR has a twelve month low of $70.60 and a twelve month high of $199.86. The firm has a market cap of $24.82 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 0.78 and a beta of 0.48. The business has a fifty day moving average of $176.20 and a 200-day moving average of $140.27.

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.