Futu Holdings Limited Sponsored ADR $FUTU Shares Bought by Korea Investment CORP

Korea Investment CORP lifted its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 2.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,361 shares of the company’s stock after purchasing an additional 1,009 shares during the period. Korea Investment CORP’s holdings in Futu were worth $4,741,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Erste Asset Management GmbH purchased a new position in Futu in the 1st quarter valued at approximately $1,036,000. Matthews International Capital Management LLC acquired a new stake in shares of Futu in the second quarter valued at $2,809,000. Charles Schwab Investment Management Inc. boosted its holdings in Futu by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company’s stock valued at $6,901,000 after purchasing an additional 5,056 shares during the period. Swedbank AB grew its stake in Futu by 729.5% during 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 in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Futu during the 1st quarter worth about $16,112,000.

Futu Stock Up 0.6%

Shares of FUTU opened at $170.73 on Tuesday. The company has a market capitalization of $23.76 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 0.60 and a beta of 0.19. Futu Holdings Limited Sponsored ADR has a 52-week low of $70.60 and a 52-week high of $202.53. The stock has a 50 day moving average price of $173.71 and a 200 day moving average price of $156.28.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $631.51 million. On average, equities analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FUTU shares. Dbs Bank upgraded Futu to a “moderate buy” rating in a research note on Thursday, September 4th. Citigroup lifted their price target on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Daiwa Capital Markets assumed coverage on shares of Futu in a research report on Monday, August 11th. They issued a “buy” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Finally, Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $203.67.

Futu Company 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.