Arrowstreet Capital Limited Partnership Sells 779,439 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Arrowstreet Capital Limited Partnership decreased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 57.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 586,241 shares of the company’s stock after selling 779,439 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Futu were worth $80,174,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. CoreCap Advisors LLC grew its holdings in shares of Futu by 2.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,455 shares of the company’s stock valued at $403,000 after acquiring an additional 68 shares in the last quarter. Lifestyle Asset Management Inc. grew its stake in Futu by 2.2% in the 4th quarter. Lifestyle Asset Management Inc. now owns 3,420 shares of the company’s stock valued at $562,000 after purchasing an additional 72 shares during the period. Orion Porfolio Solutions LLC increased its position in shares of Futu by 3.3% during the 4th quarter. Orion Porfolio Solutions LLC now owns 2,391 shares of the company’s stock valued at $393,000 after purchasing an additional 77 shares during the last quarter. Personal CFO Solutions LLC increased its position in shares of Futu by 5.1% during the 4th quarter. Personal CFO Solutions LLC now owns 1,713 shares of the company’s stock valued at $281,000 after purchasing an additional 83 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Futu by 59.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares during the period.

Futu News Roundup

Here are the key news stories impacting Futu this week:

• Negative Sentiment: Multiple firms reiterated that a securities fraud class action has been filed against Futu and are actively soliciting investors with losses to join the case or seek lead-plaintiff status before the August 25 deadline.
• Negative Sentiment: One notice specifically alleges the lawsuit involves concealed regulatory penalties, which could be interpreted by investors as a sign of heightened compliance and legal risk. Article: FUTU Shareholder Alert
• Neutral Sentiment: Another article from Zacks was a valuation comparison of Futu versus Orix, which is more informational than market-moving and does not appear to be the main driver of trading today. Article: IX vs. FUTU

Futu Price Performance

NASDAQ FUTU opened at $99.36 on Monday. The company’s 50 day moving average is $100.01 and its 200-day moving average is $134.95. 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 $13.93 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 1.17 and a beta of 0.39.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FUTU shares. The Goldman Sachs Group downgraded shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target on the stock. in a report on Monday, May 25th. Wall Street Zen lowered shares of Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Zacks Research cut shares of Futu from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Jefferies Financial Group reissued a “buy” rating and set a $170.50 target price on shares of Futu in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $87.00 target price (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. One investment 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 assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.80.

Futu 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.