Healthcare of Ontario Pension Plan Trust Fund Boosts Stake in Futu Holdings Limited Sponsored ADR $FUTU

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 576.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 287,000 shares of the company’s stock after purchasing an additional 244,600 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Futu were worth $39,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of FUTU. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Futu by 225.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 37,648 shares of the company’s stock valued at $6,182,000 after acquiring an additional 26,091 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of Futu by 3,105.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 60,900 shares of the company’s stock valued at $10,000,000 after acquiring an additional 59,000 shares during the period. Trivest Advisors Ltd lifted its holdings in shares of Futu by 2.5% in the 4th quarter. Trivest Advisors Ltd now owns 540,000 shares of the company’s stock worth $88,673,000 after acquiring an additional 13,200 shares during the last quarter. Matthews International Capital Management LLC lifted its holdings in shares of Futu by 214.5% in the 4th quarter. Matthews International Capital Management LLC now owns 150,906 shares of the company’s stock worth $24,780,000 after acquiring an additional 102,918 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Futu by 44.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 125,264 shares of the company’s stock worth $20,581,000 after acquiring an additional 38,499 shares during the last quarter.

Key Stories Impacting Futu

Here are the key news stories impacting Futu this week:

• Negative Sentiment: Multiple firms reiterated that a securities fraud class action has been filed against Futu and are actively soliciting investors with losses to join the case or seek lead-plaintiff status before the August 25 deadline.
• Negative Sentiment: One notice specifically alleges the lawsuit involves concealed regulatory penalties, which could be interpreted by investors as a sign of heightened compliance and legal risk. Article: FUTU Shareholder Alert
• Neutral Sentiment: Another article from Zacks was a valuation comparison of Futu versus Orix, which is more informational than market-moving and does not appear to be the main driver of trading today. Article: IX vs. FUTU

Futu Stock Up 0.4%

NASDAQ:FUTU opened at $99.36 on Friday. Futu Holdings Limited Sponsored ADR has a 52 week low of $80.50 and a 52 week high of $202.53. The company has a fifty day simple moving average of $100.01 and a two-hundred day simple moving average of $135.27. The company has a market cap of $13.93 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 1.17 and a beta of 0.39.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($2.12). Futu had a net margin of 41.87% and a return on equity of 26.48%. The company had revenue of $694.17 million during the quarter, compared to analyst estimates of $761.35 million. On average, analysts expect that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FUTU. Jefferies Financial Group reiterated a “buy” rating and issued a $170.50 target price on shares of Futu in a report on Thursday, May 28th. Zacks Research cut Futu from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target on the stock. in a research note on Monday, May 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $87.00 price target (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. Finally, Wall Street Zen cut Futu from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.80.

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.