AustralianSuper Pty Ltd Decreases Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

AustralianSuper Pty Ltd lowered its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 42.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,592 shares of the company’s stock after selling 44,781 shares during the period. AustralianSuper Pty Ltd’s holdings in Futu were worth $10,711,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FUTU. Arrowstreet Capital Limited Partnership raised its stake in shares of Futu by 113.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock worth $190,826,000 after purchasing an additional 822,343 shares during the period. Aspex Management HK Ltd increased its holdings in Futu by 21.1% during the second quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock worth $419,379,000 after buying an additional 591,082 shares during the last quarter. BNP Paribas Financial Markets raised its position in Futu by 166.4% in the second quarter. BNP Paribas Financial Markets now owns 455,266 shares of the company’s stock worth $56,266,000 after acquiring an additional 284,387 shares during the period. Bank of America Corp DE boosted its stake in Futu by 34.4% in the second quarter. Bank of America Corp DE now owns 1,006,656 shares of the company’s stock valued at $124,413,000 after acquiring an additional 257,389 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Futu by 233.0% in the second quarter. Schroder Investment Management Group now owns 363,967 shares of the company’s stock valued at $44,983,000 after acquiring an additional 254,682 shares during the last quarter.

Futu Trading Down 2.0%

FUTU opened at $164.88 on Friday. Futu Holdings Limited Sponsored ADR has a 12 month low of $70.60 and a 12 month high of $202.53. The company has a market cap of $22.94 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 0.43 and a beta of 0.20. The company has a 50 day moving average of $169.68 and a 200 day moving average of $171.57.

Futu (NASDAQ:FUTU) last issued 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 business had revenue of $822.80 million for the quarter, compared to analysts’ expectations of $631.51 million. Research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FUTU has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Barclays raised their target price on Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Finally, Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Futu presently has an average rating of “Buy” and an average target price of $203.67.

Futu Company 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.