Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 83.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,521 shares of the company’s stock after selling 23,176 shares during the period. Russell Investments Group Ltd.’s holdings in Futu were worth $463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors Inc. acquired a new stake in shares of Futu during the first quarter worth about $26,000. Allianz SE acquired a new stake in shares of Futu during the first quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 purchasing an additional 197 shares in the last quarter. Spire Wealth Management increased its position in shares of Futu by 2,066.7% during the first quarter. Spire Wealth Management now owns 650 shares of the company’s stock worth $67,000 after purchasing an additional 620 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Futu during the fourth quarter worth about $60,000.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FUTU shares. Daiwa America upgraded Futu to a “strong-buy” rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. boosted their price target on Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup boosted their price target on Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Daiwa Capital Markets started coverage on Futu in a research report on Monday, August 11th. They issued a “buy” rating and a $190.00 price target on the stock. Finally, Bank of America boosted their price target on Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $190.43.

Futu Trading Down 0.3%

Shares of FUTU opened at $185.60 on Monday. Futu Holdings Limited Sponsored ADR has a twelve month low of $56.22 and a twelve month high of $197.35. The stock’s 50 day moving average is $153.85 and its two-hundred day moving average is $121.51. The firm has a market capitalization of $25.82 billion, a PE ratio of 25.74, a P/E/G ratio of 0.82 and a beta of 0.57.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.01. Futu had a return on equity of 26.36% and a net margin of 44.25%.The company had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. On average, sell-side analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Futu Company 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.