GAMMA Investing LLC Buys 141 Shares of Futu Holdings Limited Sponsored ADR $FUTU

GAMMA Investing LLC lifted its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 15.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,026 shares of the company’s stock after purchasing an additional 141 shares during the period. GAMMA Investing LLC’s holdings in Futu were worth $127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FUTU. Lifestyle Asset Management Inc. lifted its holdings in Futu by 2.1% during the second quarter. Lifestyle Asset Management Inc. now owns 3,971 shares of the company’s stock worth $491,000 after acquiring an additional 83 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Futu by 2.0% during the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company’s stock worth $358,000 after acquiring an additional 87 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Futu by 38.7% during the first quarter. Smartleaf Asset Management LLC now owns 616 shares of the company’s stock worth $64,000 after acquiring an additional 172 shares in 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Futu by 1.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,000 shares of the company’s stock worth $2,047,000 after acquiring an additional 220 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on FUTU. Barclays lifted their target price on Futu from $176.00 to $232.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Dbs Bank upgraded Futu to a “moderate buy” rating in a report on Thursday, September 4th. Citigroup lifted their price target on Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. Daiwa America raised Futu to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Bank of America lifted their price target on Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. One 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 company’s stock. According to data from MarketBeat.com, Futu presently has a consensus rating of “Buy” and a consensus target price of $190.43.

Futu Stock Performance

Futu stock opened at $173.91 on Wednesday. Futu Holdings Limited Sponsored ADR has a 52 week low of $70.60 and a 52 week high of $199.86. The stock has a market capitalization of $24.20 billion, a P/E ratio of 24.12, a PEG ratio of 0.77 and a beta of 0.57. The stock has a 50-day simple moving average of $173.80 and a 200 day simple moving average of $131.56.

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.