IFM Investors Pty Ltd Boosts Holdings in Futu Holdings Limited Sponsored ADR $FUTU

IFM Investors Pty Ltd boosted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 22.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,049 shares of the company’s stock after acquiring an additional 2,354 shares during the period. IFM Investors Pty Ltd’s holdings in Futu were worth $1,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Erste Asset Management GmbH purchased a new position in shares of Futu in the first quarter worth $1,036,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Futu by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company’s stock worth $6,901,000 after buying an additional 5,056 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Futu by 1,137.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company’s stock worth $1,791,000 after buying an additional 16,086 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Futu in the first quarter worth $730,000. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Futu in the first quarter worth $16,112,000.

Futu Stock Down 5.8%

Shares of FUTU stock opened at $167.72 on Tuesday. The stock has a market cap of $23.34 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.57. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $66.22 and a fifty-two week high of $199.86. The firm’s 50 day moving average price is $171.43 and its two-hundred day moving average price is $129.06.

Analyst Upgrades and Downgrades

Several research firms recently commented on FUTU. Daiwa Capital Markets initiated coverage on shares of Futu in a research report on Monday, August 11th. They set a “buy” rating and a $190.00 price target on the stock. Barclays lifted their target price on shares of Futu from $176.00 to $232.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. Daiwa America raised shares of Futu to a “strong-buy” rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Citigroup boosted 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $190.43.

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.