BNP Paribas Financial Markets Purchases 76,670 Shares of Futu Holdings Limited Sponsored ADR $FUTU

BNP Paribas Financial Markets boosted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 28.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 348,465 shares of the company’s stock after buying an additional 76,670 shares during the period. BNP Paribas Financial Markets owned approximately 0.25% of Futu worth $57,221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FUTU. Allianz Asset Management GmbH increased its holdings in Futu by 936.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 51,620 shares of the company’s stock worth $8,977,000 after purchasing an additional 46,639 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Futu in the 3rd quarter valued at $3,439,000. Capital International Inc. CA purchased a new position in shares of Futu in the 3rd quarter valued at $39,369,000. Candriam S.C.A. grew its stake in Futu by 165.1% during the 3rd quarter. Candriam S.C.A. now owns 185,747 shares of the company’s stock worth $32,303,000 after buying an additional 115,690 shares during the last quarter. Finally, Quadrature Capital Ltd grew its stake in Futu by 818.0% during the 3rd quarter. Quadrature Capital Ltd now owns 211,407 shares of the company’s stock worth $36,766,000 after buying an additional 188,379 shares during the last quarter.

Analysts Set New Price Targets

FUTU has been the topic of several research analyst reports. Jefferies Financial Group restated a “buy” rating and set a $170.50 target price on shares of Futu in a research note on Thursday, May 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $87.00 target price (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. Wall Street Zen downgraded Futu from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research downgraded Futu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Barclays dropped their price target on Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.80.

Futu Stock Down 0.9%

Shares of FUTU stock opened at $101.97 on Wednesday. The stock has a market cap of $14.29 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.40. The business has a 50-day simple moving average of $140.57 and a 200-day simple moving average of $154.55. Futu Holdings Limited Sponsored ADR has a 52-week low of $80.50 and a 52-week high of $202.53.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($2.12). The company had revenue of $694.17 million during the quarter, compared to analyst estimates of $761.35 million. Futu had a net margin of 41.87% and a return on equity of 26.48%. Sell-side analysts anticipate that Futu Holdings Limited Sponsored ADR will post 10.68 earnings per share for the current fiscal year.

Futu Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Stockholders of record on Thursday, April 16th were issued a $2.60 dividend. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s payout ratio is 28.05%.

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.