AustralianSuper Pty Ltd Sells 44,781 Shares of Futu Holdings Limited Sponsored ADR $FUTU

AustralianSuper Pty Ltd lessened its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 42.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,592 shares of the company’s stock after selling 44,781 shares during the period. AustralianSuper Pty Ltd’s holdings in Futu were worth $10,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Aspex Management HK Ltd boosted its position in shares of Futu by 21.1% during the 2nd quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock worth $419,379,000 after purchasing an additional 591,082 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Futu by 113.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock worth $190,826,000 after buying an additional 822,343 shares during the period. State Street Corp boosted its holdings in Futu by 18.4% in the second quarter. State Street Corp now owns 1,212,481 shares of the company’s stock worth $149,851,000 after acquiring an additional 188,840 shares in the last quarter. Bank of America Corp DE grew its stake in Futu by 34.4% in the second 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, Geode Capital Management LLC grew its stake in Futu by 9.2% in the second quarter. Geode Capital Management LLC now owns 621,478 shares of the company’s stock valued at $75,648,000 after acquiring an additional 52,445 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FUTU shares. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Barclays upped their price objective on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $203.67.

Futu Trading Down 2.0%

NASDAQ FUTU opened at $164.88 on Friday. The business has a fifty day simple moving average of $169.68 and a 200 day simple moving average of $171.57. 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 $22.94 billion, a P/E ratio of 18.46, a PEG ratio of 0.43 and a beta of 0.20.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.39. The firm had revenue of $822.80 million for the quarter, compared to the consensus estimate of $631.51 million. Futu had a net margin of 47.11% and a return on equity of 30.59%. As a group, sell-side 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.