Integrated Advisors Network LLC Acquires Shares of 15,100 Futu Holdings Limited Sponsored ADR $FUTU

Integrated Advisors Network LLC acquired a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,100 shares of the company’s stock, valued at approximately $2,626,000.

A number of other hedge funds have also modified their holdings of FUTU. Aspex Management HK Ltd boosted its stake in Futu by 21.1% in the 2nd quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock valued at $419,379,000 after buying an additional 591,082 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Futu by 113.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock valued at $190,826,000 after acquiring an additional 822,343 shares during the period. State Street Corp lifted its holdings in shares of Futu by 18.4% during the second quarter. State Street Corp now owns 1,212,481 shares of the company’s stock valued at $149,851,000 after acquiring an additional 188,840 shares during the period. Bank of America Corp DE boosted its stake in shares of Futu by 34.4% in the 2nd quarter. Bank of America Corp DE now owns 1,006,656 shares of the company’s stock valued at $124,413,000 after purchasing an additional 257,389 shares in the last quarter. Finally, AGF Management Ltd. bought a new stake in shares of Futu in the 3rd quarter worth about $149,432,000.

Analyst Ratings Changes

FUTU has been the subject of several analyst reports. Barclays lifted 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. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. The Goldman Sachs Group raised Futu from a “neutral” rating to a “buy” rating and set a $213.39 target price on the stock in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Futu currently has a consensus rating of “Buy” and an average target price of $205.06.

Futu Trading Down 2.9%

Shares of FUTU stock opened at $148.84 on Friday. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53. The firm’s 50 day moving average is $162.99 and its 200-day moving average is $171.09. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 0.40 and a beta of 0.43.

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.