Amova Asset Management Americas Inc. Sells 18,534 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Amova Asset Management Americas Inc. trimmed its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 7.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,676 shares of the company’s stock after selling 18,534 shares during the quarter. Amova Asset Management Americas Inc. owned 0.16% of Futu worth $39,062,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. bought a new stake in shares of Futu in the 1st quarter worth about $27,000. LFA Lugano Financial Advisors SA purchased a new position in Futu during the 2nd quarter valued at $28,000. Cooper Investors PTY Ltd. bought a new position in Futu in the 3rd quarter valued at $29,000. Hantz Financial Services Inc. grew its holdings in shares of Futu by 4,116.7% in the second quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 247 shares during the last quarter. Finally, First Horizon Advisors Inc. purchased a new stake in Futu in the 2nd quarter valued at about $35,000.

Futu Stock Up 1.1%

Shares of FUTU opened at $146.26 on Thursday. The company has a 50 day moving average of $161.90 and a two-hundred day moving average of $170.54. The company has a market cap of $20.35 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 0.38 and a beta of 0.38. Futu Holdings Limited Sponsored ADR has a twelve month low of $70.60 and a twelve month high of $202.53.

Wall Street Analysts Forecast Growth

FUTU has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. Barclays lifted their target price on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Finally, The Goldman Sachs Group raised Futu from a “neutral” rating to a “buy” rating and set a $213.39 price target on the stock in a research report on Monday, February 2nd. 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 stock. Based on data from MarketBeat.com, Futu has a consensus rating of “Buy” and a consensus target price 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.