Swiss Life Asset Management Ltd Trims Stake in Futu Holdings Limited Sponsored ADR $FUTU

Swiss Life Asset Management Ltd reduced its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 19.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,320 shares of the company’s stock after selling 4,989 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Futu were worth $3,534,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Liontrust Investment Partners LLP bought a new position in shares of Futu in the third quarter worth approximately $261,000. CIBC Private Wealth Group LLC lifted its position in Futu by 710.8% during the third quarter. CIBC Private Wealth Group LLC now owns 527 shares of the company’s stock valued at $92,000 after purchasing an additional 462 shares during the last quarter. Danske Bank A S bought a new stake in Futu during the third quarter valued at approximately $5,329,000. Advisory Services Network LLC purchased a new position in Futu in the 3rd quarter worth approximately $212,000. Finally, Central Asset Investments & Management Holdings HK Ltd increased its holdings in shares of Futu by 91.5% in the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 17,273 shares of the company’s stock worth $3,004,000 after buying an additional 8,255 shares during the last quarter.

Futu Stock Down 3.2%

Futu stock opened at $135.02 on Monday. The firm has a fifty day simple moving average of $155.35 and a two-hundred day simple moving average of $167.09. Futu Holdings Limited Sponsored ADR has a twelve month low of $70.60 and a twelve month high of $202.53. The company has a market capitalization of $18.79 billion, a PE ratio of 13.13, a P/E/G ratio of 0.78 and a beta of 0.38.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FUTU shares. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. 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 report on Monday, February 2nd. Finally, Barclays lowered their price target on Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $210.57.

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.