Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by Aviva PLC

Aviva PLC reduced its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 8.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 116,186 shares of the company’s stock after selling 11,094 shares during the period. Aviva PLC owned approximately 0.08% of Futu worth $14,359,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Erste Asset Management GmbH purchased a new stake in Futu during the 1st quarter valued at approximately $1,036,000. Matthews International Capital Management LLC purchased a new stake in shares of Futu during the second quarter worth approximately $2,809,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Futu by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company’s stock worth $6,901,000 after purchasing an additional 5,056 shares during the period. Swedbank AB grew its position in Futu by 729.5% in the 2nd quarter. Swedbank AB now owns 50,600 shares of the company’s stock valued at $6,254,000 after buying an additional 44,500 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in Futu in the 1st quarter valued at $16,112,000.

Analyst Ratings Changes

Several analysts have recently commented on FUTU shares. Citigroup raised their target price on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Daiwa Capital Markets assumed coverage on shares of Futu in a research report on Monday, August 11th. They issued a “buy” rating and a $190.00 price objective for the company. Dbs Bank upgraded Futu to a “moderate buy” rating in a research report on Thursday, September 4th. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $190.43.

Futu Trading Down 0.6%

FUTU stock opened at $186.56 on Wednesday. The firm has a 50 day moving average of $177.34 and a 200-day moving average of $149.58. The company has a market cap of $25.96 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 0.67 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $202.53.

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.