14,456 Shares in Futu Holdings Limited Sponsored ADR $FUTU Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. bought a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 14,456 shares of the company’s stock, valued at approximately $1,787,000.

Several other large investors also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Futu by 113.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock valued at $190,826,000 after purchasing an additional 822,343 shares in the last quarter. Westerkirk Capital Inc. bought a new position in Futu in the second quarter valued at approximately $87,000. Schroder Investment Management Group boosted its holdings in shares of Futu by 233.0% in the second quarter. Schroder Investment Management Group now owns 363,967 shares of the company’s stock valued at $44,983,000 after buying an additional 254,682 shares during the period. Mackenzie Financial Corp increased its position in shares of Futu by 617.0% during the second quarter. Mackenzie Financial Corp now owns 26,986 shares of the company’s stock worth $3,335,000 after acquiring an additional 23,222 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Futu during the second quarter worth $11,308,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Dbs Bank upgraded Futu to a “moderate buy” rating in a report on Thursday, September 4th. JPMorgan Chase & Co. increased their price objective on Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Barclays boosted their target price on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. 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, the company has an average rating of “Buy” and a consensus target price of $203.67.

Futu Stock Up 0.3%

FUTU stock opened at $171.30 on Friday. The company has a market cap of $23.83 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 0.61 and a beta of 0.19. Futu Holdings Limited Sponsored ADR has a twelve month low of $70.60 and a twelve month high of $202.53. The business has a 50 day moving average price of $173.40 and a two-hundred day moving average price of $157.65.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.54 by $0.39. Futu had a return on equity of 30.59% and a net margin of 47.11%.The company had revenue of $822.80 million during the quarter, compared to the consensus estimate of $631.51 million. On average, equities research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

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.