Candriam S.C.A. Trims Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Candriam S.C.A. decreased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 69.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,057 shares of the company’s stock after selling 157,335 shares during the period. Candriam S.C.A. owned 0.05% of Futu worth $8,659,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Erste Asset Management GmbH bought a new position in Futu in the first quarter worth about $1,036,000. Matthews International Capital Management LLC purchased a new position in shares of Futu in the 2nd quarter worth approximately $2,809,000. Charles Schwab Investment Management Inc. raised its stake in shares of Futu by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company’s stock worth $6,901,000 after acquiring an additional 5,056 shares in the last quarter. Swedbank AB raised its stake in shares of Futu by 729.5% during the 2nd quarter. Swedbank AB now owns 50,600 shares of the company’s stock worth $6,254,000 after acquiring an additional 44,500 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Futu during the first quarter valued at approximately $16,112,000.

Futu Price Performance

NASDAQ FUTU opened at $165.77 on Friday. The company has a market cap of $23.07 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 0.64 and a beta of 0.49. The stock’s fifty day moving average price is $176.57 and its 200 day moving average price is $150.57. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53.

Wall Street Analyst Weigh In

FUTU has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. Citigroup raised their price objective on Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Daiwa America raised Futu to a “strong-buy” rating in a research report on Tuesday, August 12th. Daiwa Capital Markets assumed coverage on Futu in a research note on Monday, August 11th. They issued a “buy” rating and a $190.00 price target for the company. Finally, Bank of America boosted their price target on Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $190.43.

Futu Company 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.