Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Shares Sold by Bank of New York Mellon Corp

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

Several other large investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Futu by 77.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock valued at $36,000 after buying an additional 197 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Futu in the fourth quarter valued at approximately $60,000. Spire Wealth Management grew its position in shares of Futu by 2,066.7% in the first quarter. Spire Wealth Management now owns 650 shares of the company’s stock valued at $67,000 after purchasing an additional 620 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of Futu by 53.0% in the first quarter. Rakuten Securities Inc. now owns 1,045 shares of the company’s stock valued at $107,000 after buying an additional 362 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Futu by 2,723.1% in the first quarter. Versant Capital Management Inc now owns 1,101 shares of the company’s stock valued at $113,000 after buying an additional 1,062 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Barclays started coverage on shares of Futu in a research note on Thursday, July 17th. They set an “overweight” rating and a $176.00 price objective for the company. Bank of America increased their price target on shares of Futu from $123.70 to $143.90 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $139.32.

Futu Price Performance

Shares of NASDAQ FUTU opened at $160.27 on Tuesday. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $51.80 and a fifty-two week high of $169.80. The stock has a market capitalization of $22.30 billion, a PE ratio of 26.71, a P/E/G ratio of 1.27 and a beta of 0.60. The business has a fifty day moving average price of $119.49 and a two-hundred day moving average price of $105.46.

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