SPX Gestao de Recursos Ltda Buys Shares of 31,000 Futu Holdings Limited Sponsored ADR $FUTU

SPX Gestao de Recursos Ltda purchased a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,000 shares of the company’s stock, valued at approximately $5,391,000.

A number of other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. purchased a new position in shares of Futu in the 1st quarter worth approximately $27,000. LFA Lugano Financial Advisors SA purchased a new stake in Futu during the second quarter valued at approximately $28,000. Cooper Investors PTY Ltd. acquired a new stake in Futu in the third quarter valued at approximately $29,000. Hantz Financial Services Inc. grew its holdings in Futu by 4,116.7% in the second quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 247 shares during the last quarter. Finally, First Horizon Advisors Inc. acquired a new position in shares of Futu during the second quarter worth $35,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FUTU shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. Barclays raised their price target on Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Finally, The Goldman Sachs Group upgraded 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. Two 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $205.06.

Futu Price Performance

NASDAQ FUTU opened at $143.46 on Friday. The company has a market cap of $19.96 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 0.38 and a beta of 0.38. The stock’s fifty day moving average price is $161.07 and its 200 day moving average price is $170.16. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53.

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.