Y Intercept Hong Kong Ltd Has $718,000 Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Y Intercept Hong Kong Ltd lowered its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 83.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,130 shares of the company’s stock after selling 21,250 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Futu were worth $718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. raised its position in shares of Futu by 29.8% in the second quarter. Resona Asset Management Co. Ltd. now owns 20,264 shares of the company’s stock valued at $2,499,000 after purchasing an additional 4,650 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Futu by 5.2% during the 2nd quarter. ARK Investment Management LLC now owns 130,439 shares of the company’s stock worth $16,121,000 after buying an additional 6,480 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Futu by 14,928.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,767 shares of the company’s stock valued at $4,420,000 after buying an additional 35,529 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in Futu in the 3rd quarter valued at about $19,420,000. Finally, Aspex Management HK Ltd lifted its position in Futu by 21.1% during the second quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock worth $419,379,000 after acquiring an additional 591,082 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on FUTU. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Barclays raised their price target on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective for the company in a report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $205.06.

Futu Trading Down 0.5%

Shares of NASDAQ:FUTU opened at $161.72 on Tuesday. The stock has a market capitalization of $22.50 billion, a PE ratio of 18.11, a PEG ratio of 0.42 and a beta of 0.20. The firm has a 50 day moving average of $169.50 and a 200-day moving average of $172.14. Futu Holdings Limited Sponsored ADR has a 12 month low of $70.60 and a 12 month high of $202.53.

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

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.