Trivest Advisors Ltd Increases Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Trivest Advisors Ltd boosted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 64.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 526,800 shares of the company’s stock after acquiring an additional 206,800 shares during the period. Futu accounts for about 2.9% of Trivest Advisors Ltd’s holdings, making the stock its 14th biggest position. Trivest Advisors Ltd owned 0.38% of Futu worth $91,616,000 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. Aspex Management HK Ltd boosted its holdings in Futu by 21.1% in the 2nd quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock valued at $419,379,000 after purchasing an additional 591,082 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Futu by 113.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock worth $190,826,000 after purchasing an additional 822,343 shares during the period. State Street Corp raised its position in shares of Futu by 18.4% in the second quarter. State Street Corp now owns 1,212,481 shares of the company’s stock worth $149,851,000 after buying an additional 188,840 shares in the last quarter. Bank of America Corp DE boosted 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 buying an additional 257,389 shares during the period. Finally, AGF Management Ltd. bought a new stake in Futu during the third quarter valued at $149,432,000.

Futu Trading Up 1.2%

Shares of NASDAQ FUTU opened at $155.37 on Friday. The stock’s 50-day moving average is $164.38 and its 200 day moving average is $171.50. The stock has a market cap of $21.62 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 0.40 and a beta of 0.43. Futu Holdings Limited Sponsored ADR has a 1-year low of $70.60 and a 1-year high of $202.53.

Analyst Ratings Changes

Several analysts have weighed in on FUTU shares. Barclays raised their price target on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. The Goldman Sachs Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective on the stock in a research report on Monday, February 2nd. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Two research 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. According to data from MarketBeat.com, Futu has a consensus rating of “Buy” and a consensus price target of $205.06.

Futu Company 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.