GAM Holding AG Has $870,000 Stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

GAM Holding AG boosted its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 41.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,500 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. GAM Holding AG’s holdings in Futu were worth $870,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in shares of Futu by 1,245.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock worth $36,000 after acquiring an additional 411 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Futu by 77.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock worth $36,000 after acquiring an additional 197 shares during the period. Rakuten Securities Inc. lifted its position in shares of Futu by 239.8% in the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock worth $55,000 after acquiring an additional 482 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Futu in the 4th quarter worth approximately $60,000. Finally, Assetmark Inc. raised its holdings in shares of Futu by 15,200.0% in the 4th quarter. Assetmark Inc. now owns 765 shares of the company’s stock worth $61,000 after buying an additional 760 shares in the last quarter.

Futu Stock Performance

Shares of FUTU opened at $114.31 on Friday. The stock has a fifty day moving average price of $103.06 and a two-hundred day moving average price of $98.73. Futu Holdings Limited Sponsored ADR has a 52-week low of $51.80 and a 52-week high of $130.88. The company has a market cap of $15.91 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 0.91 and a beta of 0.58.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.01. Futu had a return on equity of 23.07% and a net margin of 41.74%. The firm had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. As a group, research analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FUTU has been the topic of a number of analyst reports. Bank of America upped their price target on Futu from $123.70 to $143.90 and gave the company a “buy” rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price target on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, UBS Group boosted their price target on shares of Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Futu has an average rating of “Moderate Buy” and a consensus target price of $131.98.

Futu 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.