Aberdeen Group plc Reduces Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Aberdeen Group plc lowered its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 38.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,175 shares of the company’s stock after selling 26,207 shares during the quarter. Aberdeen Group plc’s holdings in Futu were worth $7,291,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cooper Investors PTY Ltd. bought a new stake in Futu during the third quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Futu during the 2nd quarter worth $28,000. TD Private Client Wealth LLC grew its position in shares of Futu by 6,075.0% during the 3rd 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 during the period. Hantz Financial Services Inc. increased its stake in shares of Futu by 4,116.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 247 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Futu in the 1st quarter worth $27,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on FUTU shares. Barclays upped their price target on Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. The Goldman Sachs Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 target price on the stock in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Futu presently has a consensus rating of “Buy” and a consensus target price of $205.06.

Futu Trading Up 1.2%

NASDAQ FUTU opened at $155.37 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 cap of $21.62 billion, a PE ratio of 17.40, a P/E/G ratio of 0.39 and a beta of 0.43. The stock’s 50 day moving average is $164.38 and its 200 day moving average is $171.39.

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