Futu Holdings Limited Sponsored ADR $FUTU Stock: TT International Asset Management LTD Cuts Position

TT International Asset Management LTD lowered its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 41.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,541 shares of the company’s stock after selling 9,520 shares during the period. Futu comprises approximately 0.2% of TT International Asset Management LTD’s holdings, making the stock its 20th largest position. TT International Asset Management LTD’s holdings in Futu were worth $1,497,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Futu by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,114 shares of the company’s stock valued at $31,630,000 after purchasing an additional 3,058 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Futu during the 3rd quarter worth approximately $2,577,000. Profund Advisors LLC raised its stake in shares of Futu by 3.1% during the 3rd quarter. Profund Advisors LLC now owns 4,028 shares of the company’s stock worth $445,000 after buying an additional 123 shares in the last quarter. Brooklands Fund Management Ltd purchased a new position in shares of Futu during the 3rd quarter worth approximately $25,283,000. Finally, Inspire Investing LLC acquired a new stake in shares of Futu in the 3rd quarter valued at approximately $2,463,000.

Wall Street Analysts Forecast Growth

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

Futu Stock Down 0.5%

Shares of NASDAQ FUTU opened at $102.61 on Wednesday. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 1.02 and a beta of 0.71. Futu Holdings Limited Sponsored ADR has a 52 week low of $80.50 and a 52 week high of $192.26. The firm has a 50-day moving average price of $111.08 and a 200 day moving average price of $124.90.

Futu (NASDAQ:FUTU) last issued its earnings results on Thursday, August 20th. The company reported $3.33 earnings per share 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 company had revenue of $852.66 million for the quarter, compared to analyst estimates of $786.07 million. Equities research analysts expect that Futu Holdings Limited Sponsored ADR will post 9.42 EPS for the current fiscal year.

Futu Profile

Futu Holdings Limited is a technology-driven financial services company that operates online brokerage and wealth management platforms. Through its Futubull and moomoo applications, the company provides investors with access to securities trading, market data, news, analysis tools, and other digital investing services.

Futu’s platforms support trading and investment-related services across products such as equities, exchange-traded funds, options, futures, and other securities, subject to local regulations.