Perpetual Ltd Cuts Stake in Futu Holdings Limited Sponsored ADR $FUTU

Perpetual Ltd cut its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,885 shares of the company’s stock after selling 10,163 shares during the period. Perpetual Ltd’s holdings in Futu were worth $9,341,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Aberdeen Group plc grew its stake in Futu by 19.1% during the 4th quarter. Aberdeen Group plc now owns 50,219 shares of the company’s stock worth $8,246,000 after buying an additional 8,044 shares during the last quarter. Burns Matteson Capital Management LLC raised its stake in Futu by 11.4% in the fourth quarter. Burns Matteson Capital Management LLC now owns 1,755 shares of the company’s stock valued at $288,000 after buying an additional 179 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Futu in the fourth quarter worth about $115,000. Allspring Global Investments Holdings LLC grew its stake in shares of Futu by 77.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 9,284 shares of the company’s stock worth $1,657,000 after acquiring an additional 4,063 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its stake in shares of Futu by 2.5% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 8,024 shares of the company’s stock worth $1,318,000 after acquiring an additional 194 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently commented on FUTU shares. The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective for the company in a research report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Finally, Barclays decreased their price target on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $210.57.

Futu Price Performance

Shares of NASDAQ FUTU opened at $140.16 on Friday. Futu Holdings Limited Sponsored ADR has a 52 week low of $70.60 and a 52 week high of $202.53. The business’s 50 day moving average price is $148.41 and its 200 day moving average price is $163.94. The firm has a market cap of $19.50 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.80 and a beta of 0.42.

Futu (NASDAQ:FUTU) last posted its quarterly earnings results on Thursday, March 12th. The company reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.01. The company had revenue of $827.15 million during the quarter, compared to analyst estimates of $788.73 million. Futu had a net margin of 49.63% and a return on equity of 32.24%. As a group, research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Futu 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.