Greenwoods Asset Management Hong Kong Ltd. Has $189.26 Million Position in Futu Holdings Limited Sponsored ADR $FUTU

Greenwoods Asset Management Hong Kong Ltd. cut its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 19.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,531,389 shares of the company’s stock after selling 370,246 shares during the quarter. Futu comprises about 6.6% of Greenwoods Asset Management Hong Kong Ltd.’s holdings, making the stock its 5th largest position. Greenwoods Asset Management Hong Kong Ltd. owned about 1.10% of Futu worth $189,264,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hhlr Advisors LTD. increased its holdings in Futu by 285.2% in the 1st 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 last quarter. Trivest Advisors Ltd purchased a new position in shares of Futu in the first quarter worth about $98,651,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Futu by 883.4% in 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 during the period. National Bank of Canada FI purchased a new stake in shares of Futu during the 1st quarter valued at approximately $60,847,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in 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 buying an additional 417,620 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup boosted their target price on shares of Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research note on Wednesday, October 8th. Zacks Research upgraded Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Bank of America boosted their price objective on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Finally, Barclays increased their target price on shares of Futu from $176.00 to $232.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Futu has a consensus rating of “Buy” and an average price target of $190.43.

Futu Price Performance

Shares of FUTU opened at $186.56 on Wednesday. Futu Holdings Limited Sponsored ADR has a 1-year low of $70.60 and a 1-year high of $202.53. The company has a market capitalization of $25.96 billion, a P/E ratio of 25.88, a P/E/G ratio of 0.67 and a beta of 0.49. The firm’s 50 day simple moving average is $177.34 and its 200 day simple moving average is $149.58.

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.