Futu Holdings Limited Sponsored ADR $FUTU Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 113.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,544,025 shares of the company’s stock after buying an additional 822,343 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Futu were worth $190,826,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new stake in shares of Futu during the 1st quarter valued at about $1,036,000. Matthews International Capital Management LLC purchased a new position in Futu during the second quarter worth approximately $2,809,000. Charles Schwab Investment Management Inc. grew its holdings in Futu by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company’s stock valued at $6,901,000 after purchasing an additional 5,056 shares during the period. Swedbank AB grew its holdings in Futu by 729.5% in the second quarter. Swedbank AB now owns 50,600 shares of the company’s stock valued at $6,254,000 after purchasing an additional 44,500 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Futu in the first quarter valued at approximately $16,112,000.

Futu Stock Performance

Shares of Futu stock opened at $169.62 on Wednesday. The business’s 50 day moving average price is $173.76 and its 200 day moving average price is $156.71. The company has a market cap of $23.60 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 0.60 and a beta of 0.19. Futu Holdings Limited Sponsored ADR has a one year low of $70.60 and a one year high of $202.53.

Futu (NASDAQ:FUTU) last issued its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.39. Futu had a return on equity of 30.59% and a net margin of 47.11%.The business had revenue of $822.80 million during the quarter, compared to the consensus estimate of $631.51 million. On average, analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FUTU shares. Citigroup increased their target price on Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Daiwa Capital Markets assumed coverage on shares of Futu in a research note on Monday, August 11th. They set a “buy” rating and a $190.00 target price for the company. Finally, Bank of America raised their price target on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $203.67.

Futu Company Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.