Tredje AP fonden Has $119.65 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Tredje AP fonden lifted its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 3,579.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 688,000 shares of the company’s stock after purchasing an additional 669,300 shares during the period. Futu accounts for approximately 1.0% of Tredje AP fonden’s holdings, making the stock its 18th largest holding. Tredje AP fonden’s holdings in Futu were worth $119,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aspex Management HK Ltd lifted its stake in Futu by 21.1% in the second quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock valued at $419,379,000 after buying an additional 591,082 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Futu by 113.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock valued at $190,826,000 after acquiring an additional 822,343 shares during the last quarter. State Street Corp raised its position in shares of Futu by 18.4% in the 2nd quarter. State Street Corp now owns 1,212,481 shares of the company’s stock valued at $149,851,000 after acquiring an additional 188,840 shares during the period. Bank of America Corp DE raised its position in shares of Futu by 34.4% in the 2nd quarter. Bank of America Corp DE now owns 1,006,656 shares of the company’s stock valued at $124,413,000 after acquiring an additional 257,389 shares during the period. Finally, AGF Management Ltd. bought a new position in Futu during the 3rd quarter worth approximately $149,432,000.

Futu Stock Up 1.2%

Shares of FUTU stock opened at $155.37 on Friday. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $202.53. The firm has a fifty day moving average of $164.38 and a 200-day moving average of $171.39. The company has a market capitalization of $21.62 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 0.39 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, topping analysts’ consensus estimates of $2.54 by $0.39. The firm 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%. On average, equities analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on FUTU. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. The Goldman Sachs Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective for the company in a research report on Monday, February 2nd. Barclays raised their price objective on Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Two investment 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 company’s stock. Based on data from MarketBeat, Futu currently has a consensus rating of “Buy” and a consensus price target of $205.06.

Futu Company 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.