Rhumbline Advisers Has $2.31 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Rhumbline Advisers reduced its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,548 shares of the company’s stock after selling 475 shares during the period. Rhumbline Advisers’ holdings in Futu were worth $2,308,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FUTU. Atlas Capital Advisors Inc. acquired a new position in shares of Futu during the first quarter worth $26,000. Geneos Wealth Management Inc. acquired a new position in shares of Futu during the first quarter worth $27,000. Allianz SE acquired a new position in shares of Futu during the first quarter worth $30,000. SVB Wealth LLC acquired a new position in shares of Futu during the first quarter worth $40,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 buying an additional 197 shares in the last quarter.

Futu Trading Down 0.4%

Shares of FUTU opened at $174.95 on Thursday. The stock has a market capitalization of $24.34 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 0.78 and a beta of 0.57. The firm’s fifty day simple moving average is $169.85 and its two-hundred day simple moving average is $127.58. Futu Holdings Limited Sponsored ADR has a 12 month low of $59.51 and a 12 month high of $199.86.

Wall Street Analyst Weigh In

FUTU has been the subject of several research analyst reports. Citigroup upped their price target on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Dbs Bank upgraded shares of Futu to a “moderate buy” rating in a report on Thursday, September 4th. Daiwa America upgraded shares of Futu to a “strong-buy” rating in a report on Tuesday, August 12th. Bank of America boosted their price objective on shares of Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Finally, Daiwa Capital Markets began coverage on shares of Futu in a research note on Monday, August 11th. They issued a “buy” rating and a $190.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $190.43.

About Futu

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.