Mirae Asset Global Investments Co. Ltd. Buys 23,311 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the third quarter, Holdings Channel.com reports. The firm purchased 23,311 shares of the company’s stock, valued at approximately $2,577,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its position in shares of Futu by 59.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock worth $37,000 after acquiring an additional 84 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new stake in shares of Futu during the 3rd quarter worth about $32,000. V Square Quantitative Management LLC raised its position in shares of Futu by 19.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 583 shares of the company’s stock worth $64,000 after acquiring an additional 94 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Futu by 58.3% during the first quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the company’s stock worth $165,000 after purchasing an additional 443 shares during the last quarter. Finally, State of Wyoming lifted its stake in Futu by 21.4% during the first quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $209,000 after purchasing an additional 270 shares during the last quarter.

Futu Price Performance

Shares of NASDAQ:FUTU opened at $98.06 on Friday. Futu Holdings Limited Sponsored ADR has a 12 month low of $80.50 and a 12 month high of $190.51. The firm has a market capitalization of $13.75 billion, a P/E ratio of 9.71, a P/E/G ratio of 0.97 and a beta of 0.71. The company’s fifty day moving average price is $109.33 and its 200 day moving average price is $123.75.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Thursday, August 20th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.35. The company had revenue of $852.66 million during the quarter, compared to the consensus estimate of $786.07 million. Futu had a net margin of 42.95% and a return on equity of 28.20%. On average, sell-side analysts anticipate that Futu Holdings Limited Sponsored ADR will post 9.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FUTU. Zacks Research raised Futu from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Wall Street Zen upgraded shares of Futu from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings cut shares of Futu from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 9th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $139.91.

About Futu

Futu Holdings Ltd. is a financial technology company that provides digital brokerage and wealth management services. Its platforms include Futu NiuNiu and moomoo, which offer tools for investors to trade and manage investments.

The company’s services include securities trading, market data and research, investment education, and online investor communities. Its brokerage platforms provide access to products such as stocks, exchange-traded funds, options, and other investment products, with availability varying by market.

Founded in 2012 by Leaf Hua Li, Futu is headquartered in Hong Kong and serves customers in markets including Hong Kong, Singapore, the United States, Australia, and Japan.