China Universal Asset Management Co. Ltd. Invests $3.44 Million in Futu Holdings Limited Sponsored ADR $FUTU

China Universal Asset Management Co. Ltd. purchased a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,776 shares of the company’s stock, valued at approximately $3,439,000.

Other hedge funds have also added to or reduced their stakes in the company. Aspex Management HK Ltd raised its stake in shares of Futu by 21.1% in the second 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Futu by 113.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock valued at $190,826,000 after buying an additional 822,343 shares during the last quarter. State Street Corp raised its position in Futu by 18.4% in the 2nd quarter. State Street Corp now owns 1,212,481 shares of the company’s stock valued at $149,851,000 after buying an additional 188,840 shares during the last quarter. Bank of America Corp DE lifted its stake in Futu by 34.4% during the 2nd 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 in the last quarter. Finally, AGF Management Ltd. purchased a new position in Futu during the 3rd quarter worth $149,432,000.

Futu Price Performance

Shares of FUTU stock opened at $153.50 on Friday. The business has a 50-day moving average of $164.70 and a 200 day moving average of $171.36. Futu Holdings Limited Sponsored ADR has a 1-year low of $70.60 and a 1-year high of $202.53. The stock has a market capitalization of $21.36 billion, a PE ratio of 17.19, a P/E/G ratio of 0.39 and a beta of 0.43.

Futu (NASDAQ:FUTU) last announced its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates 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. Analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FUTU. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Barclays lifted their target price 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 Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective on the stock in a research report on Monday, February 2nd. Finally, Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $205.06.

Futu Company 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.