Allianz Asset Management GmbH Acquires 46,639 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Allianz Asset Management GmbH grew its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 936.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,620 shares of the company’s stock after acquiring an additional 46,639 shares during the quarter. Allianz Asset Management GmbH’s holdings in Futu were worth $8,977,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Geneos Wealth Management Inc. bought a new position in shares of Futu during the 1st quarter valued at $27,000. LFA Lugano Financial Advisors SA purchased a new stake in Futu during the second quarter valued at about $28,000. Cooper Investors PTY Ltd. bought a new position in shares of Futu during the third quarter valued at about $29,000. Hantz Financial Services Inc. grew its stake in shares of Futu by 4,116.7% during the second 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 position in shares of Futu in the second quarter worth about $35,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FUTU. Zacks Research upgraded Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Barclays lifted their target price on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research note 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 price target for the company in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Futu presently has an average rating of “Buy” and a consensus price target of $205.06.

Futu Stock Performance

Shares of FUTU stock opened at $151.49 on Monday. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $70.60 and a fifty-two week high of $202.53. The firm has a market cap of $21.08 billion, a P/E ratio of 16.96, a P/E/G ratio of 0.39 and a beta of 0.43. The business’s 50 day moving average price is $168.24 and its 200-day moving average price is $171.87.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Tuesday, November 18th. The company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.39. The company had revenue of $822.80 million during the quarter, compared to analyst estimates of $631.51 million. Futu had a return on equity of 30.59% and a net margin of 47.11%. As a group, equities analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

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.