Myriad Asset Management US LP Lowers Position in Futu Holdings Limited Sponsored ADR $FUTU

Myriad Asset Management US LP lessened its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 84.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,301 shares of the company’s stock after selling 6,930 shares during the period. Myriad Asset Management US LP’s holdings in Futu were worth $214,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in shares of Futu during the 1st quarter valued at approximately $27,000. Cooper Investors PTY Ltd. bought a new stake in Futu during the 3rd quarter worth approximately $29,000. TD Private Client Wealth LLC raised its stake in Futu by 6,075.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock worth $43,000 after acquiring an additional 243 shares during the period. Quarry LP purchased a new position in Futu during the third quarter valued at approximately $51,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Futu during the fourth quarter valued at approximately $61,000.

Analyst Upgrades and Downgrades

FUTU has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. 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 report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $210.57.

Futu Stock Performance

FUTU opened at $140.16 on Friday. The stock has a market capitalization of $19.50 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.80 and a beta of 0.42. The company has a fifty day moving average of $148.41 and a 200 day moving average of $163.94. 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 Thursday, March 12th. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.01. Futu had a net margin of 49.63% and a return on equity of 32.24%. The company had revenue of $827.15 million for the quarter, compared to the consensus estimate of $788.73 million. On average, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

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.