Callan Family Office LLC Grows Stake in Futu Holdings Limited Sponsored ADR $FUTU

Callan Family Office LLC raised its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 14.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,099 shares of the company’s stock after purchasing an additional 1,114 shares during the quarter. Callan Family Office LLC’s holdings in Futu were worth $1,125,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FUTU. Hhlr Advisors LTD. grew its stake in shares of Futu by 285.2% during the first quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company’s stock valued at $440,872,000 after acquiring an additional 3,189,189 shares in the last quarter. Trivest Advisors Ltd acquired a new stake in shares of Futu during the first quarter valued at about $98,651,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Futu by 883.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company’s stock valued at $101,262,000 after acquiring an additional 888,760 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Futu during the first quarter valued at about $77,172,000. Finally, Greenwoods Asset Management Hong Kong Ltd. grew its stake in shares of Futu by 48.2% during the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,901,635 shares of the company’s stock valued at $194,632,000 after acquiring an additional 618,701 shares in the last quarter.

Futu Stock Performance

NASDAQ:FUTU opened at $154.60 on Monday. The company has a market capitalization of $21.51 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 0.68 and a beta of 0.48. Futu Holdings Limited Sponsored ADR has a one year low of $70.60 and a one year high of $199.86. The stock has a 50-day simple moving average of $175.81 and a 200 day simple moving average of $135.07.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FUTU shares. Daiwa Capital Markets started coverage on Futu in a research note on Monday, August 11th. They set a “buy” rating and a $190.00 target price for the company. JPMorgan Chase & Co. raised their target price on Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Daiwa America upgraded Futu to a “strong-buy” rating in a research note on Tuesday, August 12th. 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. Finally, Dbs Bank upgraded Futu to a “moderate buy” rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $190.43.

About Futu

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.