Futu Holdings Limited Sponsored ADR $FUTU Stock Position Cut by Sei Investments Co.

Sei Investments Co. decreased its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 72.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,957 shares of the company’s stock after selling 28,470 shares during the period. Sei Investments Co.’s holdings in Futu were worth $1,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FUTU. AQR Capital Management LLC acquired a new stake in shares of Futu in the 1st quarter worth approximately $235,000. Jones Financial Companies Lllp increased its stake in shares of Futu by 442.4% during the first quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock valued at $66,000 after acquiring an additional 522 shares during the period. Goldman Sachs Group Inc. raised its holdings in Futu by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company’s stock worth $46,997,000 after purchasing an additional 16,255 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Futu during the first quarter worth approximately $27,000. Finally, American Century Companies Inc. lifted its position in Futu by 9.2% in the second quarter. American Century Companies Inc. now owns 9,905 shares of the company’s stock worth $1,224,000 after purchasing an additional 836 shares during the period.

Futu Price Performance

NASDAQ:FUTU opened at $108.70 on Tuesday. The stock has a market cap of $15.24 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 1.28 and a beta of 0.43. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $80.50 and a fifty-two week high of $202.53. The stock’s 50-day moving average is $99.03 and its two-hundred day moving average is $129.40.

Futu (NASDAQ:FUTU) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). The company had revenue of $694.17 million during the quarter, compared to analysts’ expectations of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. On average, equities research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FUTU. The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target on the stock. in a research report on Monday, May 25th. Zacks Research upgraded Futu from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Wall Street Zen cut Futu from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $170.50 target price on shares of Futu in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $87.00 price target (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.27.

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.