Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by Pinpoint Asset Management Singapore Pte. Ltd.

Pinpoint Asset Management Singapore Pte. Ltd. decreased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 45.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,612 shares of the company’s stock after selling 8,044 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in Futu were worth $1,672,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new position in Futu in the first quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA purchased a new stake in Futu in the second quarter valued at $28,000. Cooper Investors PTY Ltd. acquired a new position in shares of Futu in the 3rd quarter valued at $29,000. First Horizon Advisors Inc. acquired a new position in shares of Futu in the 2nd quarter valued at $35,000. Finally, TD Private Client Wealth LLC grew its holdings in shares of Futu by 6,075.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock worth $43,000 after purchasing an additional 243 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective on the stock in a report on Monday, February 2nd. Barclays boosted their price target on shares of Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Two equities research 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 an average rating of “Buy” and an average target price of $205.06.

Futu Price Performance

NASDAQ FUTU opened at $143.46 on Monday. The company has a market cap of $19.96 billion, a P/E ratio of 16.06, a P/E/G ratio of 0.37 and a beta of 0.38. The stock has a 50-day moving average of $161.07 and a two-hundred day moving average of $170.11. Futu Holdings Limited Sponsored ADR has a 1-year low of $70.60 and a 1-year high of $202.53.

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.