Legal & General Group Plc Has $41.60 Million Position in Futu Holdings Limited Sponsored ADR $FUTU

Legal & General Group Plc boosted its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 0.5% in the second quarter, Holdings Channel reports. The institutional investor owned 336,589 shares of the company’s stock after buying an additional 1,534 shares during the period. Legal & General Group Plc’s holdings in Futu were worth $41,599,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hhlr Advisors LTD. grew its holdings in Futu by 285.2% during the 1st quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company’s stock worth $440,872,000 after acquiring an additional 3,189,189 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. lifted its holdings 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 worth $194,632,000 after purchasing an additional 618,701 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Futu by 30.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,786,247 shares of the company’s stock worth $182,824,000 after purchasing an additional 417,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Futu by 883.4% in 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 worth $101,262,000 after purchasing an additional 888,760 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Futu by 9.2% in the second quarter. Geode Capital Management LLC now owns 621,478 shares of the company’s stock valued at $75,648,000 after purchasing an additional 52,445 shares during the period.

Analyst Ratings Changes

Several research analysts have commented on FUTU shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. Citigroup lifted their price objective on Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Zacks Research upgraded Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Daiwa Capital Markets began coverage on shares of Futu in a research report on Monday, August 11th. They set a “buy” rating and a $190.00 target price for the company. Finally, Barclays raised their price target on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $203.67.

Futu Price Performance

Shares of Futu stock opened at $169.60 on Thursday. The stock’s 50-day moving average is $173.90 and its 200 day moving average is $154.69. Futu Holdings Limited Sponsored ADR has a one year low of $70.60 and a one year high of $202.53. The firm has a market cap of $23.60 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 0.59 and a beta of 0.49.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.39. The firm had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. Futu had a return on equity of 30.59% and a net margin of 47.11%. On average, sell-side analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

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.