31,000 Shares in Futu Holdings Limited Sponsored ADR $FUTU Purchased by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda acquired a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 31,000 shares of the company’s stock, valued at approximately $5,391,000.

A number of other hedge funds have also recently modified their holdings of the business. Resona Asset Management Co. Ltd. increased its stake in Futu by 29.8% in the second quarter. Resona Asset Management Co. Ltd. now owns 20,264 shares of the company’s stock worth $2,499,000 after purchasing an additional 4,650 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Futu by 936.3% in the third quarter. Allianz Asset Management GmbH now owns 51,620 shares of the company’s stock worth $8,977,000 after purchasing an additional 46,639 shares during the last quarter. Veritas Asset Management LLP increased its stake in Futu by 40.9% in the 3rd quarter. Veritas Asset Management LLP now owns 420,857 shares of the company’s stock worth $73,191,000 after buying an additional 122,207 shares during the period. Rakuten Investment Management Inc. bought a new stake in Futu during the 3rd quarter valued at about $19,420,000. Finally, Lingohr Asset Management GmbH purchased a new stake in Futu in the 3rd quarter valued at about $2,922,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays upped 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group raised 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. Two equities research 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 MarketBeat, the company presently has an average rating of “Buy” and an average target price of $205.06.

Futu Stock Performance

NASDAQ:FUTU opened at $143.46 on Friday. The firm has a 50-day simple moving average of $161.07 and a 200-day simple moving average of $170.16. 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 $19.96 billion, a P/E ratio of 16.06, a P/E/G ratio of 0.38 and a beta of 0.38.

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.