Vontobel Holding Ltd. Sells 28,959 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Vontobel Holding Ltd. trimmed its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 25.4% in the third quarter, HoldingsChannel reports. The fund owned 84,951 shares of the company’s stock after selling 28,959 shares during the period. Vontobel Holding Ltd.’s holdings in Futu were worth $9,391,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Franchise GP Ltd bought a new position in shares of Futu during the 3rd quarter valued at $4,037,000. V Square Quantitative Management LLC raised its position in Futu by 19.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 583 shares of the company’s stock worth $64,000 after purchasing an additional 94 shares during the period. Assenagon Asset Management S.A. lifted its stake in Futu by 41.2% in the third quarter. Assenagon Asset Management S.A. now owns 927,552 shares of the company’s stock worth $102,541,000 after purchasing an additional 270,689 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Futu by 7.0% in the second quarter. Sequoia Financial Advisors LLC now owns 4,797 shares of the company’s stock worth $450,000 after purchasing an additional 315 shares during the last quarter. Finally, Nykredit A S bought a new stake in Futu in the second quarter worth $1,607,000.

Analysts Set New Price Targets

Several analysts have issued reports on FUTU shares. Wall Street Zen upgraded shares of Futu from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings downgraded Futu from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 9th. Finally, Zacks Research raised Futu from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $139.91.

Futu Stock Performance

NASDAQ:FUTU opened at $105.48 on Friday. The firm has a market cap of $14.79 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.05 and a beta of 0.45. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $80.50 and a fifty-two week high of $202.53. The business has a 50 day moving average price of $113.18 and a 200-day moving average price of $116.81.

Futu (NASDAQ:FUTU) last issued its earnings results on Thursday, August 20th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.35. Futu had a net margin of 42.95% and a return on equity of 28.20%. The firm had revenue of $852.66 million for the quarter, compared to analysts’ expectations of $786.07 million. Research analysts predict that Futu Holdings Limited Sponsored ADR will post 9.42 EPS for the current year.

About Futu

Futu Holdings Limited is a technology-driven financial services company that operates online brokerage and wealth-management platforms. Founded in 2012 and headquartered in Hong Kong, the company provides digital tools designed to help individual investors access securities markets, manage portfolios and obtain investment information.

Its principal platforms include Futubull and Moomoo, which offer services such as stock and exchange-traded fund trading, margin financing, market data, research, news, portfolio management and investor education.