Bailard Inc. Decreases Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Bailard Inc. cut its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 33.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,001 shares of the company’s stock after selling 4,999 shares during the quarter. Bailard Inc.’s holdings in Futu were worth $1,739,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cooper Investors PTY Ltd. acquired a new stake in shares of Futu in the third quarter valued at about $29,000. LFA Lugano Financial Advisors SA purchased a new position in Futu in the 2nd quarter worth approximately $28,000. TD Private Client Wealth LLC grew its position in Futu by 6,075.0% in the third quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock valued at $43,000 after acquiring an additional 243 shares in the last quarter. Hantz Financial Services Inc. raised its stake 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 valued at $31,000 after purchasing an additional 247 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Futu during the first quarter valued at approximately $27,000.

Analyst Ratings Changes

Several brokerages have recently weighed in on FUTU. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Barclays boosted their price objective on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $203.67.

Futu Price Performance

FUTU opened at $162.00 on Friday. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $202.53. The stock has a market capitalization of $22.54 billion, a PE ratio of 18.14, a P/E/G ratio of 0.43 and a beta of 0.20. The firm’s fifty day moving average price is $169.70 and its 200 day moving average price is $170.66.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $631.51 million. Futu had a net margin of 47.11% and a return on equity of 30.59%. On average, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Futu Company Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.