Public Sector Pension Investment Board Raises Position in Futu Holdings Limited Sponsored ADR $FUTU

Public Sector Pension Investment Board boosted its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 7.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,214 shares of the company’s stock after acquiring an additional 3,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Futu were worth $9,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the company. Caprock Group LLC purchased a new position in shares of Futu during the 3rd quarter worth approximately $213,000. Baader Bank Aktiengesellschaft raised its holdings in Futu by 31.0% in the third quarter. Baader Bank Aktiengesellschaft now owns 3,000 shares of the company’s stock worth $522,000 after purchasing an additional 710 shares in the last quarter. Profund Advisors LLC grew its position in shares of Futu by 7.0% in the 3rd quarter. Profund Advisors LLC now owns 5,452 shares of the company’s stock worth $948,000 after buying an additional 355 shares during the period. Candriam S.C.A. lifted its position in Futu by 165.1% during the 3rd quarter. Candriam S.C.A. now owns 185,747 shares of the company’s stock valued at $32,303,000 after acquiring an additional 115,690 shares during the period. Finally, New York Life Investment Management LLC bought a new stake in Futu during the third quarter worth about $210,000.

Futu Stock Down 0.5%

Shares of Futu stock opened at $146.72 on Tuesday. Futu Holdings Limited Sponsored ADR has a twelve month low of $70.60 and a twelve month high of $202.53. The company’s 50 day moving average is $165.99 and its 200 day moving average is $171.57. The company has a market cap of $20.41 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 0.38 and a beta of 0.43.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FUTU. The Goldman Sachs Group raised Futu from a “neutral” rating to a “buy” rating and set a $213.39 price target on the stock in a research report on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Barclays upped their price target on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. 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 equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Futu currently has an average rating of “Buy” and a consensus target price of $205.06.

About Futu

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.