Acadian Asset Management LLC Has $4.59 Million Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Acadian Asset Management LLC decreased its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 74.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,142 shares of the company’s stock after selling 109,876 shares during the quarter. Acadian Asset Management LLC’s holdings in Futu were worth $4,588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hhlr Advisors LTD. grew its holdings in shares of Futu by 285.2% during the 1st quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company’s stock valued at $440,872,000 after purchasing an additional 3,189,189 shares during the last quarter. Trivest Advisors Ltd bought a new position in Futu in the 1st quarter valued at approximately $98,651,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Futu by 883.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company’s stock valued at $101,262,000 after buying an additional 888,760 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. grew its stake in shares of Futu by 48.2% during the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,901,635 shares of the company’s stock worth $194,632,000 after buying an additional 618,701 shares during the last quarter. Finally, National Bank of Canada FI acquired a new position in shares of Futu during the first quarter worth $60,847,000.

Futu Stock Performance

NASDAQ:FUTU opened at $179.68 on Friday. Futu Holdings Limited Sponsored ADR has a 52 week low of $70.60 and a 52 week high of $202.53. The firm’s fifty day moving average is $177.00 and its 200-day moving average is $150.04. The firm has a market cap of $25.00 billion, a P/E ratio of 24.92, a P/E/G ratio of 0.67 and a beta of 0.49.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FUTU shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. Dbs Bank upgraded Futu to a “moderate buy” rating in a research report on Thursday, September 4th. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Barclays upped their price objective on Futu from $176.00 to $232.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. Finally, Bank of America raised their price objective on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.