22,731 Shares in Futu Holdings Limited Sponsored ADR $FUTU Acquired by Matthews International Capital Management LLC

Matthews International Capital Management LLC bought a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 22,731 shares of the company’s stock, valued at approximately $2,809,000. Futu comprises approximately 0.6% of Matthews International Capital Management LLC’s holdings, making the stock its 25th biggest holding.

Other hedge funds also recently bought and sold shares of the company. Erste Asset Management GmbH bought a new stake in Futu in the 1st quarter worth approximately $1,036,000. Charles Schwab Investment Management Inc. lifted its position in Futu by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company’s stock worth $6,901,000 after buying an additional 5,056 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Futu by 1,137.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company’s stock worth $1,791,000 after purchasing an additional 16,086 shares during the period. Swedbank AB increased its stake in Futu by 729.5% in the 2nd quarter. Swedbank AB now owns 50,600 shares of the company’s stock worth $6,254,000 after purchasing an additional 44,500 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new position in Futu in the 1st quarter worth approximately $16,112,000.

Futu Stock Performance

FUTU opened at $169.98 on Friday. Futu Holdings Limited Sponsored ADR has a 52-week low of $70.60 and a 52-week high of $199.86. The stock has a market capitalization of $23.65 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 0.73 and a beta of 0.48. The stock’s 50 day moving average price is $174.07 and its 200-day moving average price is $132.59.

Wall Street Analyst Weigh In

A number of brokerages have commented on FUTU. Dbs Bank raised Futu to a “moderate buy” rating in a research note on Thursday, September 4th. Citigroup lifted their price target on Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Bank of America lifted their price target on Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. lifted their price target on Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Finally, Daiwa America raised Futu to a “strong-buy” rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Futu Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.