E. Ohman J or Asset Management AB Purchases 36,000 Shares of Futu Holdings Limited Sponsored ADR $FUTU

E. Ohman J or Asset Management AB grew its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 1,058.8% in the second quarter, HoldingsChannel reports. The fund owned 39,400 shares of the company’s stock after acquiring an additional 36,000 shares during the period. E. Ohman J or Asset Management AB’s holdings in Futu were worth $3,693,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in shares of Futu in the first quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new position in Futu during the first quarter worth $27,000. Rockefeller Capital Management L.P. grew its position in Futu by 59.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Futu in the 4th quarter valued at $49,000. Finally, Parkside Financial Bank & Trust increased its stake in Futu by 30,000.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 301 shares of the company’s stock valued at $49,000 after buying an additional 300 shares during the last quarter.

Futu Stock Down 0.3%

Shares of NASDAQ:FUTU opened at $108.70 on Tuesday. The stock has a market cap of $15.24 billion, a PE ratio of 11.96, a P/E/G ratio of 1.28 and a beta of 0.43. Futu Holdings Limited Sponsored ADR has a 12-month low of $80.50 and a 12-month high of $202.53. The business has a 50 day moving average of $99.03 and a 200-day moving average of $129.40.

Futu (NASDAQ:FUTU) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($2.12). The firm had revenue of $694.17 million for the quarter, compared to analyst estimates of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. Equities research analysts expect that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FUTU shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $87.00 price target (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $170.50 target price on shares of Futu in a research report on Thursday, May 28th. Wall Street Zen lowered Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target for the company. in a research report on Monday, May 25th. Finally, Zacks Research upgraded Futu from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.27.

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.