Arrowstreet Capital Limited Partnership Purchases 822,343 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Arrowstreet Capital Limited Partnership grew its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 113.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,544,025 shares of the company’s stock after buying an additional 822,343 shares during the period. Arrowstreet Capital Limited Partnership owned 1.11% of Futu worth $190,826,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hhlr Advisors LTD. lifted its position in Futu by 285.2% during the first quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company’s stock valued at $440,872,000 after acquiring an additional 3,189,189 shares during the last quarter. Aspex Management HK Ltd lifted its holdings in shares of Futu by 21.1% during the 2nd quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock valued at $419,379,000 after purchasing an additional 591,082 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. lifted its holdings in shares of Futu by 48.2% during the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,901,635 shares of the company’s stock valued at $194,632,000 after purchasing an additional 618,701 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Futu by 30.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,786,247 shares of the company’s stock worth $182,824,000 after purchasing an additional 417,620 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Futu by 883.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company’s stock worth $101,262,000 after buying an additional 888,760 shares during the last quarter.

Futu Price Performance

Shares of Futu stock opened at $169.62 on Wednesday. The stock has a market cap of $23.60 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 0.60 and a beta of 0.19. The firm has a fifty day moving average price of $173.76 and a 200 day moving average price of $156.71. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.39. The company had revenue of $822.80 million for the quarter, compared to the consensus estimate of $631.51 million. Futu had a return on equity of 30.59% and a net margin of 47.11%. As a group, equities analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on FUTU shares. Daiwa Capital Markets assumed coverage on Futu in a research report on Monday, August 11th. They set a “buy” rating and a $190.00 target price on the stock. Citigroup upped their price objective on shares of Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Bank of America boosted 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. Finally, Dbs Bank upgraded shares of Futu to a “moderate buy” rating in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Futu currently has an average rating of “Buy” and a consensus target price of $203.67.

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.