New York State Common Retirement Fund Acquires New Position in Futu Holdings Limited Sponsored ADR $FUTU

New York State Common Retirement Fund acquired a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,741 shares of the company’s stock, valued at approximately $651,000.

Several other large investors have also bought and sold shares of FUTU. Cooper Investors PTY Ltd. purchased a new stake in shares of Futu during the third quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA purchased a new position in Futu in the 2nd quarter worth approximately $28,000. TD Private Client Wealth LLC boosted its stake in Futu by 6,075.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock valued at $43,000 after purchasing an additional 243 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Futu by 4,116.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock valued at $31,000 after purchasing an additional 247 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Futu in the 1st quarter worth $27,000.

Futu Stock Up 1.4%

Futu stock opened at $158.34 on Wednesday. Futu Holdings Limited Sponsored ADR has a 52-week low of $70.60 and a 52-week high of $202.53. The company has a market cap of $22.03 billion, a P/E ratio of 17.73, a P/E/G ratio of 0.40 and a beta of 0.43. The business has a 50-day simple moving average of $167.73 and a two-hundred day simple moving average of $171.75.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.39. The firm had revenue of $822.80 million for the quarter, compared to analysts’ expectations of $631.51 million. Futu had a net margin of 47.11% and a return on equity of 30.59%. Research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FUTU shares. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. 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. Barclays upped their target price on shares of Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $205.06.

Futu Company 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.