Franklin Resources Inc. Has $358,000 Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Franklin Resources Inc. reduced its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 70.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,893 shares of the company’s stock after selling 6,782 shares during the period. Franklin Resources Inc.’s holdings in Futu were worth $358,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Erste Asset Management GmbH bought a new position in shares of Futu in the 1st quarter worth $1,036,000. Matthews International Capital Management LLC acquired a new position in Futu in the second quarter valued at about $2,809,000. Charles Schwab Investment Management Inc. boosted its holdings in 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 buying an additional 5,056 shares during the last quarter. Swedbank AB boosted its holdings in Futu by 729.5% during the second quarter. Swedbank AB now owns 50,600 shares of the company’s stock worth $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 shares of Futu during the 1st quarter worth about $16,112,000.

Analysts Set New Price Targets

Several research firms recently weighed in on FUTU. Daiwa America raised shares of Futu to a “strong-buy” rating in a research note on Tuesday, August 12th. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. 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, Bank of America lifted their price objective on Futu from $172.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $203.67.

Futu Stock Up 0.8%

Shares of FUTU stock opened at $173.37 on Wednesday. Futu Holdings Limited Sponsored ADR has a 12 month low of $70.60 and a 12 month high of $202.53. The company’s fifty day simple moving average is $173.36 and its 200-day simple moving average is $158.85. The firm has a market cap of $24.12 billion, a PE ratio of 19.41, a P/E/G ratio of 0.61 and a beta of 0.19.

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. Futu had a net margin of 47.11% and a return on equity of 30.59%. The firm had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. On average, equities analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Futu Company 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.