Bank of New York Mellon Corp Has $8.54 Million Stock Holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Bank of New York Mellon Corp decreased its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 7.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,479 shares of the company’s stock after selling 6,788 shares during the quarter. Bank of New York Mellon Corp owned about 0.06% of Futu worth $8,544,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Mackenzie Financial Corp increased its holdings in Futu by 2.0% in the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company’s stock worth $358,000 after purchasing an additional 87 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Futu by 1.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company’s stock valued at $746,000 after buying an additional 113 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Futu by 1.6% during the fourth quarter. Voya Investment Management LLC now owns 9,549 shares of the company’s stock valued at $764,000 after buying an additional 153 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock worth $36,000 after acquiring an additional 197 shares during the period. Finally, Rakuten Securities Inc. lifted its holdings in Futu by 53.0% during the first quarter. Rakuten Securities Inc. now owns 1,045 shares of the company’s stock worth $107,000 after acquiring an additional 362 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FUTU. Bank of America increased their target price on Futu from $123.70 to $143.90 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. Barclays began coverage on Futu in a report on Thursday, July 17th. They issued an “overweight” rating and a $176.00 target price for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.32.

Futu Trading Down 0.2%

FUTU stock opened at $160.27 on Tuesday. The company’s 50-day moving average price is $119.49 and its 200 day moving average price is $105.46. The company has a market cap of $22.30 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.27 and a beta of 0.60. Futu Holdings Limited Sponsored ADR has a 52 week low of $51.80 and a 52 week high of $169.80.

Futu (NASDAQ:FUTU) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. The company had revenue of $603.43 million for the quarter, compared to the consensus estimate of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. On average, equities research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Futu Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.