Envestnet Asset Management Inc. Buys 5,609 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Envestnet Asset Management Inc. increased its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 47.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,520 shares of the company’s stock after acquiring an additional 5,609 shares during the period. Envestnet Asset Management Inc.’s holdings in Futu were worth $3,047,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new position in Futu in the 1st quarter worth approximately $27,000. LFA Lugano Financial Advisors SA bought a new position in shares of Futu in the second quarter worth approximately $28,000. Cooper Investors PTY Ltd. purchased a new position in shares of Futu in the third quarter worth $29,000. Hantz Financial Services Inc. raised its holdings in Futu by 4,116.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 247 shares during the last quarter. Finally, First Horizon Advisors Inc. purchased a new stake in Futu during the 2nd quarter valued at $35,000.

Futu Price Performance

Shares of FUTU opened at $151.72 on Thursday. The company has a 50-day simple moving average of $163.52 and a two-hundred day simple moving average of $171.29. The firm has a market capitalization of $21.11 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.37 and a beta of 0.43. Futu Holdings Limited Sponsored ADR has a one year low of $70.60 and a one year high of $202.53.

Analyst Ratings Changes

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

About Futu

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.