Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 63.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,748 shares of the company’s stock after selling 13,177 shares during the quarter. iA Global Asset Management Inc.’s holdings in Futu were worth $1,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC raised its holdings in shares of Futu by 2.8% in the 4th quarter. CoreCap Advisors LLC now owns 2,455 shares of the company’s stock valued at $403,000 after purchasing an additional 68 shares in the last quarter. Diversify Wealth Management LLC raised its holdings in shares of Futu by 0.9% in the 3rd quarter. Diversify Wealth Management LLC now owns 8,962 shares of the company’s stock valued at $1,559,000 after purchasing an additional 83 shares in the last quarter. Personal CFO Solutions LLC raised its holdings in shares of Futu by 5.1% in the 4th quarter. Personal CFO Solutions LLC now owns 1,713 shares of the company’s stock valued at $281,000 after purchasing an additional 83 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Futu by 15.4% in the 4th quarter. Spire Wealth Management now owns 750 shares of the company’s stock valued at $123,000 after purchasing an additional 100 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Futu by 53.2% in the 4th quarter. Farther Finance Advisors LLC now owns 331 shares of the company’s stock valued at $54,000 after purchasing an additional 115 shares in the last quarter.

Futu Price Performance

Shares of NASDAQ:FUTU opened at $131.70 on Tuesday. The company’s fifty day moving average price is $148.07 and its 200 day moving average price is $160.25. Futu Holdings Limited Sponsored ADR has a 12 month low of $100.50 and a 12 month high of $202.53. The firm has a market capitalization of $18.46 billion, a P/E ratio of 12.81, a P/E/G ratio of 0.94 and a beta of 0.52.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Sunday, February 15th. The company reported $3.07 EPS for the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. The firm had revenue of $771.00 million for the quarter. On average, sell-side analysts anticipate that Futu Holdings Limited Sponsored ADR will post 11.78 EPS for the current year.

Futu Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th were paid a $2.60 dividend. The ex-dividend date was Thursday, April 16th. Futu’s payout ratio is currently 24.81%.

Analyst Upgrades and Downgrades

FUTU has been the topic of a number of analyst reports. Zacks Research lowered shares of Futu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Barclays reduced their price objective on shares of Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group set a $205.00 price target on shares of Futu in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.17.

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.