Hsbc Holdings PLC Sells 268,211 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Hsbc Holdings PLC trimmed its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 46.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 310,032 shares of the company’s stock after selling 268,211 shares during the period. Hsbc Holdings PLC owned about 0.22% of Futu worth $50,941,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital International Inc. CA purchased a new position in shares of Futu during the third quarter worth approximately $39,369,000. Quadrature Capital Ltd boosted its stake in shares of Futu by 818.0% in the 3rd quarter. Quadrature Capital Ltd now owns 211,407 shares of the company’s stock valued at $36,766,000 after purchasing an additional 188,379 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Futu by 3,105.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 60,900 shares of the company’s stock valued at $10,000,000 after purchasing an additional 59,000 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of 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 purchasing an additional 26,091 shares during the last quarter. Finally, Trivest Advisors Ltd raised its position in Futu by 2.5% in the 4th quarter. Trivest Advisors Ltd now owns 540,000 shares of the company’s stock worth $88,673,000 after purchasing an additional 13,200 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $170.50 price target on shares of Futu in a research note on Thursday, May 28th. The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 price objective on the stock. in a research note on Monday, May 25th. Wall Street Zen downgraded Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Zacks Research lowered Futu from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Finally, Barclays dropped their target price on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Futu presently has an average rating of “Moderate Buy” and a consensus target price of $162.80.

Futu Stock Down 2.1%

Shares of Futu stock opened at $97.90 on Wednesday. The company’s fifty day simple moving average is $126.06 and its two-hundred day simple moving average is $146.33. Futu Holdings Limited Sponsored ADR has a 12-month low of $80.50 and a 12-month high of $202.53. The firm has a market cap of $13.72 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.17 and a beta of 0.40.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $2.89 by ($2.12). The firm had revenue of $694.17 million for 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%. As a group, sell-side analysts expect that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current fiscal year.

Futu Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th were issued a $2.60 dividend. The ex-dividend date was Thursday, April 16th. Futu’s dividend payout ratio (DPR) 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.