Vontobel Holding Ltd. Has $834,000 Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Vontobel Holding Ltd. lessened its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 9.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,746 shares of the company’s stock after selling 738 shares during the period. Vontobel Holding Ltd.’s holdings in Futu were worth $834,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new position in Futu in the first quarter worth about $1,036,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Futu by 8.1% in the 1st 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 in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Futu by 1,137.6% in the 1st 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 in the last quarter. Swedbank AB raised its stake in Futu by 729.5% during the second quarter. Swedbank AB now owns 50,600 shares of the company’s stock worth $6,254,000 after acquiring an additional 44,500 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in Futu during the first quarter worth $16,112,000.

Futu Trading Up 4.4%

FUTU opened at $161.43 on Tuesday. The stock has a market capitalization of $22.46 billion, a PE ratio of 22.39, a PEG ratio of 0.68 and a beta of 0.48. Futu Holdings Limited Sponsored ADR has a 1-year low of $70.60 and a 1-year high of $199.86. The firm has a 50-day moving average price of $176.02 and a two-hundred day moving average price of $135.47.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. increased their target price on shares of Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Daiwa America raised shares of Futu to a “strong-buy” rating in a report on Tuesday, August 12th. Zacks Research lowered shares of Futu from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Citigroup raised their price objective 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 research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.43.

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.