Mitsubishi UFJ Trust & Banking Corp Boosts Position in Futu Holdings Limited Sponsored ADR $FUTU

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 18.3% during the 3rd quarter, Holdings Channel reports. The fund owned 33,279 shares of the company’s stock after purchasing an additional 5,155 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Futu were worth $5,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FUTU. Matthews International Capital Management LLC acquired a new position in shares of Futu in the 2nd quarter valued at about $2,809,000. Resona Asset Management Co. Ltd. raised its position in Futu by 29.8% during the second quarter. Resona Asset Management Co. Ltd. now owns 20,264 shares of the company’s stock valued at $2,499,000 after acquiring an additional 4,650 shares in the last quarter. ARK Investment Management LLC lifted its holdings in Futu by 5.2% in the second quarter. ARK Investment Management LLC now owns 130,439 shares of the company’s stock valued at $16,121,000 after acquiring an additional 6,480 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Futu by 14,928.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,767 shares of the company’s stock valued at $4,420,000 after acquiring an additional 35,529 shares during the period. Finally, Rakuten Investment Management Inc. purchased a new stake in Futu in the 3rd quarter worth approximately $19,420,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Barclays upped their price objective on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $203.67.

Futu Stock Performance

Shares of NASDAQ FUTU opened at $164.88 on Friday. The firm has a fifty day moving average of $169.68 and a 200 day moving average of $171.57. The firm has a market cap of $22.94 billion, a PE ratio of 18.46, a PEG ratio of 0.43 and a beta of 0.20. 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 announced its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.39. The business had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. Futu had a net margin of 47.11% and a return on equity of 30.59%. On average, equities analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Futu Company 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.