QRG Capital Management Inc. Decreases Stake in Futu Holdings Limited Sponsored ADR $FUTU

QRG Capital Management Inc. decreased its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 62.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,769 shares of the company’s stock after selling 12,710 shares during the period. QRG Capital Management Inc.’s holdings in Futu were worth $1,351,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Asset Management One Co. Ltd. raised its stake in shares of Futu by 0.4% in the 2nd quarter. Asset Management One Co. Ltd. now owns 22,219 shares of the company’s stock valued at $2,746,000 after acquiring an additional 94 shares during the period. Ensign Peak Advisors Inc raised its position in Futu by 2.7% in the second quarter. Ensign Peak Advisors Inc now owns 3,800 shares of the company’s stock valued at $470,000 after purchasing an additional 100 shares during the period. Cerity Partners LLC lifted its stake in shares of Futu by 4.6% during the second quarter. Cerity Partners LLC now owns 2,729 shares of the company’s stock worth $337,000 after purchasing an additional 120 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Futu by 15.9% in the second quarter. GAMMA Investing LLC now owns 1,026 shares of the company’s stock worth $127,000 after buying an additional 141 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in shares of Futu by 15.3% in the second quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the company’s stock valued at $144,000 after buying an additional 155 shares in the last quarter.

Futu Trading Down 0.7%

Shares of NASDAQ:FUTU opened at $170.63 on Wednesday. The firm has a market cap of $23.74 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 0.50 and a beta of 0.20. The company has a fifty day simple moving average of $170.45 and a 200 day simple moving average of $170.76. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $202.53.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.39. The company had revenue of $822.80 million during the quarter, compared to analyst estimates of $631.51 million. Futu had a net margin of 47.11% and a return on equity of 30.59%. As a group, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Finally, Barclays raised 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. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $203.67.

Futu 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.