Mediolanum International Funds Ltd Has $3.94 Million Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Mediolanum International Funds Ltd reduced its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 24.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,694 shares of the company’s stock after selling 7,498 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Futu were worth $3,941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FUTU. Geneos Wealth Management Inc. acquired a new stake in Futu during the first quarter worth about $27,000. LFA Lugano Financial Advisors SA acquired a new stake in Futu in the second quarter valued at approximately $28,000. Cooper Investors PTY Ltd. bought a new position in shares of Futu in the 3rd quarter valued at $29,000. Hantz Financial Services Inc. boosted its holdings in shares of Futu by 4,116.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 247 shares in the last quarter. Finally, First Horizon Advisors Inc. bought a new stake in Futu during the 2nd quarter worth $35,000.

Wall Street Analysts Forecast Growth

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

Futu Stock Down 0.5%

FUTU opened at $161.72 on Tuesday. The stock has a market cap of $22.50 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.42 and a beta of 0.20. Futu Holdings Limited Sponsored ADR has a twelve month low of $70.60 and a twelve month high of $202.53. The company has a fifty day moving average of $169.50 and a 200-day moving average of $172.14.

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

About Futu

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.