Tredje AP fonden Has $119.65 Million Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Tredje AP fonden lifted its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 3,579.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 688,000 shares of the company’s stock after purchasing an additional 669,300 shares during the quarter. Futu accounts for approximately 1.0% of Tredje AP fonden’s holdings, making the stock its 18th biggest holding. Tredje AP fonden owned approximately 0.49% of Futu worth $119,650,000 at the end of the most recent reporting period.

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

Futu Stock Up 1.2%

Futu stock opened at $155.37 on Friday. The stock has a market cap of $21.62 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 0.39 and a beta of 0.43. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $202.53. The business’s 50-day simple moving average is $164.38 and its 200 day simple moving average is $171.39.

Futu (NASDAQ:FUTU) last released its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share (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 company had revenue of $822.80 million for the quarter, compared to the consensus estimate of $631.51 million. As a group, sell-side analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FUTU shares. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective on the stock in a report on Monday, February 2nd. Barclays boosted 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. Finally, Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a research 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $205.06.

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.