Perpetual Ltd Trims Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Perpetual Ltd lessened its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 15.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,885 shares of the company’s stock after selling 10,163 shares during the quarter. Perpetual Ltd’s holdings in Futu were worth $9,341,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. purchased a new position in Futu during the first quarter valued at approximately $27,000. Cooper Investors PTY Ltd. purchased a new stake in Futu in the 3rd quarter worth approximately $29,000. TD Private Client Wealth LLC boosted its position in Futu by 6,075.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock worth $43,000 after purchasing an additional 243 shares in the last quarter. Quarry LP acquired a new stake in shares of Futu during the 3rd quarter worth approximately $51,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Futu during the 4th quarter worth approximately $61,000.

Analysts Set New Price Targets

Several research firms recently issued reports on FUTU. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. The Goldman Sachs Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective for the company in a research report on Monday, February 2nd. Finally, Barclays lowered their target price on shares of Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Futu presently has a consensus rating of “Buy” and an average target price of $210.57.

Futu Price Performance

Shares of FUTU stock opened at $140.16 on Friday. Futu Holdings Limited Sponsored ADR has a 1-year low of $70.60 and a 1-year high of $202.53. The company has a market cap of $19.50 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.80 and a beta of 0.42. The stock has a 50 day simple moving average of $148.41 and a 200-day simple moving average of $163.94.

Futu (NASDAQ:FUTU) last released its quarterly earnings results on Thursday, March 12th. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.01. The firm had revenue of $827.15 million for the quarter, compared to analysts’ expectations of $788.73 million. Futu had a net margin of 49.63% and a return on equity of 32.24%. Analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

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.