Bailard Inc. Cuts Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Bailard Inc. trimmed its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 25.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the company’s stock after selling 5,000 shares during the period. Bailard Inc.’s holdings in Futu were worth $1,854,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Atlas Capital Advisors Inc. bought a new stake in Futu during the 1st quarter valued at approximately $26,000. Geneos Wealth Management Inc. bought a new stake in shares of Futu during the first quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Futu in the second quarter worth $28,000. Allianz SE bought a new position in shares of Futu during the first quarter worth $30,000. Finally, Hantz Financial Services Inc. boosted its position in shares of Futu by 4,116.7% during the second quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock worth $31,000 after acquiring an additional 247 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have commented on FUTU shares. Citigroup boosted their price target on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Zacks Research upgraded Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. Barclays lifted their price objective on Futu from $176.00 to $232.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. Finally, Bank of America increased their target price on Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $190.43.

Futu Stock Performance

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

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.