Candriam S.C.A. Purchases 115,690 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Candriam S.C.A. increased its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 165.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 185,747 shares of the company’s stock after acquiring an additional 115,690 shares during the quarter. Candriam S.C.A. owned about 0.13% of Futu worth $32,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York Life Investment Management LLC bought a new stake in Futu during the 3rd quarter worth about $210,000. SBI Securities Co. Ltd. raised its stake in shares of Futu by 44.8% during the third quarter. SBI Securities Co. Ltd. now owns 1,688 shares of the company’s stock worth $294,000 after buying an additional 522 shares during the last quarter. Savant Capital LLC acquired a new position in Futu in the third quarter valued at approximately $290,000. Envestnet Asset Management Inc. boosted its stake in Futu by 47.1% in the third quarter. Envestnet Asset Management Inc. now owns 17,520 shares of the company’s stock valued at $3,047,000 after acquiring an additional 5,609 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Futu by 218.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 806 shares of the company’s stock worth $140,000 after acquiring an additional 553 shares during the period.

Analyst Ratings Changes

Several research analysts have recently issued reports 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 Futu from a “neutral” rating to a “buy” rating and set a $213.39 target price on the stock in a report on Monday, February 2nd. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Barclays increased their price target on shares of Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Futu presently has an average rating of “Buy” and a consensus price target of $205.06.

Futu Price Performance

NASDAQ FUTU opened at $156.18 on Tuesday. Futu Holdings Limited Sponsored ADR has a one year low of $70.60 and a one year high of $202.53. The firm has a market cap of $21.73 billion, a P/E ratio of 17.49, a P/E/G ratio of 0.39 and a beta of 0.43. The stock’s 50-day moving average is $167.95 and its 200-day moving average is $171.79.

Futu (NASDAQ:FUTU) last posted its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.39. Futu had a return on equity of 30.59% and a net margin of 47.11%.The business had revenue of $822.80 million during the quarter, compared to analysts’ expectations of $631.51 million. Equities analysts anticipate 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.