Futu Holdings Limited Sponsored ADR $FUTU Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 126.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,353 shares of the company’s stock after acquiring an additional 8,566 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Futu were worth $2,670,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of FUTU. AQR Capital Management LLC purchased a new position in shares of Futu in the first quarter valued at approximately $235,000. Jones Financial Companies Lllp lifted its holdings in Futu by 442.4% during the 1st quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock worth $66,000 after buying an additional 522 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Futu by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company’s stock valued at $46,997,000 after buying an additional 16,255 shares during the period. Geneos Wealth Management Inc. purchased a new position in Futu in the 1st quarter valued at approximately $27,000. Finally, Strs Ohio acquired a new position in shares of Futu in the first quarter worth $2,783,000.

Futu Stock Performance

Shares of NASDAQ FUTU opened at $184.08 on Wednesday. The stock’s 50-day simple moving average is $171.79 and its 200-day simple moving average is $168.95. The firm has a market capitalization of $25.61 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 0.55 and a beta of 0.20. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $70.60 and a fifty-two week high of $202.53.

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

Wall Street Analysts Forecast Growth

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

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.