Swedbank AB Purchases 13,200 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Swedbank AB grew its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 26.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,800 shares of the company’s stock after buying an additional 13,200 shares during the quarter. Swedbank AB’s holdings in Futu were worth $11,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Optas LLC purchased a new stake in Futu during the 3rd quarter valued at $478,000. Vontobel Holding Ltd. lifted its holdings in shares of Futu by 21.0% during the third quarter. Vontobel Holding Ltd. now owns 8,166 shares of the company’s stock valued at $1,420,000 after purchasing an additional 1,420 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Futu by 4.9% during the third quarter. Exchange Traded Concepts LLC now owns 26,073 shares of the company’s stock valued at $4,534,000 after buying an additional 1,207 shares during the last quarter. Perpetual Ltd bought a new stake in Futu in the 3rd quarter worth about $11,660,000. Finally, Voya Investment Management LLC raised its position in Futu by 1,435.0% in the 3rd quarter. Voya Investment Management LLC now owns 146,052 shares of the company’s stock worth $25,400,000 after buying an additional 136,537 shares during the last quarter.

Futu Trading Up 0.3%

Shares of NASDAQ FUTU opened at $165.19 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 market capitalization of $22.98 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 0.54 and a beta of 0.19. The firm has a 50 day moving average of $173.25 and a 200 day moving average of $163.82.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $631.51 million. Sell-side analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. Barclays raised their target price on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Dbs Bank upgraded shares of Futu to a “moderate buy” rating in a research note on Thursday, September 4th. Finally, Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Two investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $203.67.

Futu 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.