Candriam S.C.A. Has $32.30 Million Position in Futu Holdings Limited Sponsored ADR $FUTU

Candriam S.C.A. boosted its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 165.1% during the third quarter, Holdings Channel reports. The institutional investor owned 185,747 shares of the company’s stock after purchasing an additional 115,690 shares during the quarter. Candriam S.C.A.’s holdings in Futu were worth $32,303,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FUTU. AQR Capital Management LLC acquired a new stake in shares of Futu in the first quarter valued at approximately $235,000. Jones Financial Companies Lllp boosted its holdings in Futu by 442.4% during the first quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock worth $66,000 after purchasing an additional 522 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Futu by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company’s stock valued at $46,997,000 after purchasing an additional 16,255 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Futu in the 1st quarter valued at $27,000. Finally, Callan Family Office LLC lifted its position in Futu by 14.0% during the 2nd quarter. Callan Family Office LLC now owns 9,099 shares of the company’s stock worth $1,125,000 after buying an additional 1,114 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FUTU. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Zacks Research upgraded Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Barclays upped their price objective on Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Finally, The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 target price for the company in a research note on Monday, February 2nd. 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 data from MarketBeat.com, Futu has an average rating of “Buy” and a consensus price target of $205.06.

Futu Stock Up 3.1%

Futu stock opened at $156.18 on Tuesday. The company’s 50-day moving average price is $167.95 and its two-hundred day moving average price is $171.79. The stock has a market cap of $21.73 billion, a P/E ratio of 17.49, a P/E/G ratio of 0.39 and a beta of 0.43. Futu Holdings Limited Sponsored ADR has a twelve month low of $70.60 and a twelve month high of $202.53.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data 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 return on equity of 30.59% and a net margin of 47.11%.The firm had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. Equities analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share 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.