National Pension Service Takes $566,000 Position in Futu Holdings Limited Sponsored ADR $FUTU

National Pension Service acquired a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 3,256 shares of the company’s stock, valued at approximately $566,000.

Several other hedge funds have also recently bought and sold shares of the business. Geneos Wealth Management Inc. bought a new position in Futu during the first quarter valued at about $27,000. LFA Lugano Financial Advisors SA bought a new position in shares of Futu in the 2nd quarter valued at approximately $28,000. Cooper Investors PTY Ltd. acquired a new stake in Futu in the 3rd quarter worth approximately $29,000. Hantz Financial Services Inc. boosted its position in Futu by 4,116.7% during the second quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 247 shares during the period. Finally, First Horizon Advisors Inc. acquired a new position in Futu during the second quarter valued at approximately $35,000.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FUTU shares. The Goldman Sachs Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective for the company in a research note on Monday. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Barclays upped their price target on shares of Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $205.06.

Futu Stock Performance

Shares of FUTU opened at $159.78 on Wednesday. The company has a 50-day simple moving average of $169.33 and a 200-day simple moving average of $172.14. Futu Holdings Limited Sponsored ADR has a 52 week low of $70.60 and a 52 week high of $202.53. The firm has a market capitalization of $22.23 billion, a P/E ratio of 17.89, a P/E/G ratio of 0.41 and a beta of 0.43.

Futu (NASDAQ:FUTU) last issued its quarterly 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 firm had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. Futu had a return on equity of 30.59% and a net margin of 47.11%. As a group, equities analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

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.