Vestmark Advisory Solutions Inc. Purchases Shares of 3,367 Futu Holdings Limited Sponsored ADR $FUTU

Vestmark Advisory Solutions Inc. purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,367 shares of the company’s stock, valued at approximately $416,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC increased its position in Futu by 11.2% during the 1st quarter. Signaturefd LLC now owns 3,502 shares of the company’s stock worth $358,000 after purchasing an additional 354 shares in the last quarter. Jennison Associates LLC purchased a new stake in Futu during the first quarter worth approximately $42,610,000. Cetera Investment Advisers increased its position in shares of Futu by 62.1% in the first quarter. Cetera Investment Advisers now owns 5,431 shares of the company’s stock worth $556,000 after acquiring an additional 2,080 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new stake in shares of Futu in the first quarter worth $3,398,000. Finally, TD Asset Management Inc raised its stake in shares of Futu by 6.1% in the 1st quarter. TD Asset Management Inc now owns 17,284 shares of the company’s stock valued at $1,769,000 after acquiring an additional 1,000 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Daiwa Capital Markets initiated coverage on Futu in a research note on Monday, August 11th. They set a “buy” rating and a $190.00 price objective on the stock. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. raised their target price on Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Barclays boosted their price target on Futu from $176.00 to $232.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. Two equities 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. According to MarketBeat, Futu presently has a consensus rating of “Buy” and an average price target of $190.43.

Futu Stock Performance

Shares of NASDAQ FUTU opened at $186.56 on Wednesday. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 0.67 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53. The stock’s 50-day simple moving average is $177.34 and its 200-day simple moving average is $149.58.

Futu 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.