Futu Holdings Limited Sponsored ADR $FUTU Holdings Increased by Greenwoods Asset Management Hong Kong Ltd.

Greenwoods Asset Management Hong Kong Ltd. raised its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 48.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,901,635 shares of the company’s stock after purchasing an additional 618,701 shares during the period. Futu makes up about 6.0% of Greenwoods Asset Management Hong Kong Ltd.’s investment portfolio, making the stock its 6th largest holding. Greenwoods Asset Management Hong Kong Ltd. owned 1.37% of Futu worth $194,632,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in Futu by 1,137.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company’s stock valued at $1,791,000 after purchasing an additional 16,086 shares during the last quarter. Yong Rong HK Asset Management Ltd purchased a new position in shares of Futu in the 1st quarter worth $77,172,000. Trivest Advisors Ltd bought a new stake in shares of Futu in the first quarter worth $98,651,000. GAM Holding AG increased its position in Futu by 41.7% during the first quarter. GAM Holding AG now owns 8,500 shares of the company’s stock valued at $870,000 after acquiring an additional 2,500 shares during the last quarter. Finally, ARK Investment Management LLC purchased a new stake in Futu during the first quarter valued at $12,687,000.

Analysts Set New Price Targets

A number of analysts recently commented on FUTU shares. Barclays started coverage on Futu in a research report on Thursday, July 17th. They set an “overweight” rating and a $176.00 price objective for the company. Daiwa America upgraded Futu to a “strong-buy” rating in a research report on Tuesday, August 12th. Bank of America raised their target price on Futu from $123.70 to $143.90 and gave the stock a “buy” rating in a report on Wednesday, June 11th. Daiwa Capital Markets assumed coverage on Futu in a report on Monday, August 11th. They issued a “buy” rating and a $190.00 target price on the stock. Finally, Citigroup raised their target price on Futu from $113.00 to $176.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $158.13.

Futu Stock Performance

Futu stock opened at $172.92 on Tuesday. The company has a 50 day moving average price of $141.71 and a 200-day moving average price of $116.45. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $56.22 and a fifty-two week high of $179.17. The company has a market capitalization of $24.06 billion, a PE ratio of 28.82, a P/E/G ratio of 1.08 and a beta of 0.49.

Futu (NASDAQ:FUTU) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.01. The firm had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. On average, analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

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.