Barings LLC Acquires 56,475 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Barings LLC lifted its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTUFree Report) by 3,576.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,054 shares of the company’s stock after purchasing an additional 56,475 shares during the quarter. Barings LLC’s holdings in Futu were worth $7,939,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Jupiter Asset Management Ltd. raised its stake in shares of Futu by 3,105.3% in 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 period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Futu by 225.8% in the fourth 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 in the last quarter. Trivest Advisors Ltd boosted its position in shares of Futu by 2.5% during the fourth quarter. Trivest Advisors Ltd now owns 540,000 shares of the company’s stock worth $88,673,000 after buying an additional 13,200 shares during the period. Matthews International Capital Management LLC boosted its position in shares of Futu by 214.5% during the fourth quarter. Matthews International Capital Management LLC now owns 150,906 shares of the company’s stock worth $24,780,000 after buying an additional 102,918 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Futu by 44.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 125,264 shares of the company’s stock worth $20,581,000 after buying an additional 38,499 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Zacks Research downgraded Futu from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. The Goldman Sachs Group cut shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target for the company. in a research note on Monday, May 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $170.50 price objective on shares of Futu in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $87.00 price objective (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Futu has a consensus rating of “Moderate Buy” and an average target price of $162.80.

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Futu Stock Down 1.9%

NASDAQ:FUTU opened at $97.52 on Friday. The firm has a market capitalization of $13.67 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.17 and a beta of 0.39. Futu Holdings Limited Sponsored ADR has a twelve month low of $80.50 and a twelve month high of $202.53. The stock’s 50 day moving average price is $104.79 and its two-hundred day moving average price is $137.89.

Futu (NASDAQ:FUTUGet Free Report) last released 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). Futu had a net margin of 41.87% and a return on equity of 26.48%. The company had revenue of $694.17 million during the quarter, compared to analyst estimates of $761.35 million. As a group, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Futu Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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