China Universal Asset Management Co. Ltd. Acquires Shares of 19,776 Futu Holdings Limited Sponsored ADR $FUTU

China Universal Asset Management Co. Ltd. bought a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,776 shares of the company’s stock, valued at approximately $3,439,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FUTU. Geneos Wealth Management Inc. purchased a new position in shares of Futu in the 1st quarter worth about $27,000. LFA Lugano Financial Advisors SA bought a new stake in Futu during the 2nd quarter valued at about $28,000. Cooper Investors PTY Ltd. purchased a new position in Futu in the third quarter worth about $29,000. Hantz Financial Services Inc. lifted its stake in shares of Futu by 4,116.7% in the second quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock worth $31,000 after buying an additional 247 shares in the last quarter. Finally, First Horizon Advisors Inc. bought a new position in shares of Futu in the second quarter worth approximately $35,000.

Futu Stock Performance

NASDAQ FUTU opened at $153.50 on Friday. The business’s fifty day moving average is $164.70 and its 200 day moving average is $171.36. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $70.60 and a fifty-two week high of $202.53. The company has a market capitalization of $21.36 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 0.39 and a beta of 0.43.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.54 by $0.39. Futu had a return on equity of 30.59% and a net margin of 47.11%.The firm had revenue of $822.80 million for the quarter, compared to the consensus estimate of $631.51 million. On average, sell-side analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on FUTU. The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price target for the company in a research report on Monday, February 2nd. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Barclays boosted their price target on Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $205.06.

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.