Geode Capital Management LLC Purchases 52,445 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Geode Capital Management LLC grew its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 9.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 621,478 shares of the company’s stock after buying an additional 52,445 shares during the quarter. Geode Capital Management LLC owned 0.45% of Futu worth $75,648,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FUTU. Hhlr Advisors LTD. lifted its stake in Futu by 285.2% in the first quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company’s stock worth $440,872,000 after acquiring an additional 3,189,189 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its holdings in shares of Futu by 48.2% in the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,901,635 shares of the company’s stock valued at $194,632,000 after purchasing an additional 618,701 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Futu by 30.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,786,247 shares of the company’s stock worth $182,824,000 after purchasing an additional 417,620 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Futu by 883.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company’s stock valued at $101,262,000 after purchasing an additional 888,760 shares in the last quarter. Finally, Trivest Advisors Ltd bought a new position in shares of Futu during the first quarter valued at approximately $98,651,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on FUTU shares. Citigroup boosted their price objective on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Dbs Bank upgraded Futu to a “moderate buy” rating in a research note on Thursday, September 4th. Daiwa America raised Futu to a “strong-buy” rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Barclays increased their price target on shares of Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Futu presently has an average rating of “Buy” and an average price target of $203.67.

Futu Stock Performance

NASDAQ FUTU opened at $161.52 on Friday. The firm has a market capitalization of $22.47 billion, a P/E ratio of 18.09, a PEG ratio of 0.57 and a beta of 0.49. The stock has a 50-day simple moving average of $174.33 and a two-hundred day simple moving average of $153.28. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $70.60 and a fifty-two week high of $202.53.

Futu (NASDAQ:FUTU) last posted its earnings results on Tuesday, November 18th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.54 by $0.39. Futu had a return on equity of 30.59% and a net margin of 47.11%.The firm had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. As a group, analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current 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.