Futu Holdings Limited Sponsored ADR $FUTU Shares Bought by Aspex Management HK Ltd

Aspex Management HK Ltd boosted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 37.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,371,597 shares of the company’s stock after acquiring an additional 919,724 shares during the period. Futu comprises 11.2% of Aspex Management HK Ltd’s investment portfolio, making the stock its 2nd biggest holding. Aspex Management HK Ltd owned about 2.42% of Futu worth $553,650,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new position in Futu during the 3rd quarter valued at about $3,439,000. Capital International Inc. CA purchased a new position in Futu during the 3rd quarter valued at about $39,369,000. Quadrature Capital Ltd increased its holdings in Futu by 818.0% during the 3rd quarter. Quadrature Capital Ltd now owns 211,407 shares of the company’s stock valued at $36,766,000 after acquiring an additional 188,379 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Futu by 225.8% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 37,648 shares of the company’s stock valued at $6,182,000 after acquiring an additional 26,091 shares in the last quarter. Finally, Trivest Advisors Ltd increased its holdings in Futu by 2.5% during the 4th quarter. Trivest Advisors Ltd now owns 540,000 shares of the company’s stock valued at $88,673,000 after acquiring an additional 13,200 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Barclays reduced their price target on shares of Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. The Goldman Sachs Group cut shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target on the stock. in a research report on Monday, May 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $170.50 price target on shares of Futu in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $87.00 price objective (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $162.80.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $97.54 on Friday. Futu Holdings Limited Sponsored ADR has a twelve month low of $80.50 and a twelve month high of $202.53. The firm has a market cap of $13.67 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.12 and a beta of 0.40. The business has a fifty day moving average of $132.97 and a 200-day moving average of $150.01.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). The company had revenue of $694.17 million during the quarter, compared to the consensus estimate of $761.35 million. Futu had a net margin of 41.87% and a return on equity of 26.48%. On average, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current fiscal year.

Futu Dividend Announcement

The business also recently announced a special dividend, which was paid on Wednesday, April 29th. Investors of record on Thursday, April 16th were given a dividend of $2.60 per share. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s payout ratio is presently 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.