Rakuten Investment Management Inc. Purchases Shares of 111,667 Futu Holdings Limited Sponsored ADR $FUTU

Rakuten Investment Management Inc. acquired a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 111,667 shares of the company’s stock, valued at approximately $19,420,000.

Several other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its stake in Futu by 113.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock valued at $190,826,000 after buying an additional 822,343 shares during the last quarter. Aspex Management HK Ltd boosted its position in shares of Futu by 21.1% during the 2nd quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock valued at $419,379,000 after acquiring an additional 591,082 shares during the last quarter. BNP Paribas Financial Markets increased its position in Futu by 166.4% in the second quarter. BNP Paribas Financial Markets now owns 455,266 shares of the company’s stock worth $56,266,000 after purchasing an additional 284,387 shares during the last quarter. Bank of America Corp DE raised its stake in Futu by 34.4% during the second quarter. Bank of America Corp DE now owns 1,006,656 shares of the company’s stock valued at $124,413,000 after purchasing an additional 257,389 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Futu by 233.0% during the second quarter. Schroder Investment Management Group now owns 363,967 shares of the company’s stock valued at $44,983,000 after purchasing an additional 254,682 shares during the last quarter.

Analysts Set New Price Targets

FUTU has been the topic of a number of research reports. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Barclays boosted their price objective on Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $203.67.

Futu Trading Down 0.7%

Shares of NASDAQ:FUTU opened at $170.63 on Wednesday. Futu Holdings Limited Sponsored ADR has a 12 month low of $70.60 and a 12 month high of $202.53. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 0.50 and a beta of 0.20. The firm’s 50-day moving average is $170.45 and its 200 day moving average is $170.76.

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

Futu Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.