Capital International Investors Purchases 247,824 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Capital International Investors boosted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 36.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 932,095 shares of the company’s stock after acquiring an additional 247,824 shares during the period. Capital International Investors owned 0.67% of Futu worth $162,101,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FUTU. Legal & General Group Plc increased its stake in shares of Futu by 2.5% in the third quarter. Legal & General Group Plc now owns 344,857 shares of the company’s stock worth $59,974,000 after purchasing an additional 8,268 shares during the period. Tree Line Advisors Hong Kong Ltd. bought a new stake in Futu during the 3rd quarter valued at approximately $64,250,000. Russell Investments Group Ltd. boosted its stake in Futu by 327.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 47,405 shares of the company’s stock valued at $8,242,000 after purchasing an additional 36,320 shares during the period. Diversify Advisory Services LLC grew its holdings in Futu by 8.3% in the 3rd quarter. Diversify Advisory Services LLC now owns 2,938 shares of the company’s stock valued at $511,000 after buying an additional 226 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in Futu in the 3rd quarter worth approximately $268,000.

Analyst Ratings Changes

FUTU has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Barclays boosted their target price on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Finally, The Goldman Sachs Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 target price for the company in a research note 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. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $205.06.

Futu Stock Down 0.6%

Futu stock opened at $152.64 on Thursday. The business has a 50 day moving average price of $160.15 and a two-hundred day moving average price of $169.47. 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 $21.24 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 0.40 and a beta of 0.38.

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.