8,119 Shares in Futu Holdings Limited Sponsored ADR $FUTU Bought by SEB Asset Management AB

SEB Asset Management AB purchased a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,119 shares of the company’s stock, valued at approximately $1,110,000.

A number of other hedge funds have also added to or reduced their stakes in FUTU. Aspex Management HK Ltd raised its holdings in Futu by 37.5% in the 4th quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock worth $553,650,000 after purchasing an additional 919,724 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Futu by 7.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,660,168 shares of the company’s stock valued at $288,720,000 after purchasing an additional 116,143 shares in the last quarter. State Street Corp boosted its stake in shares of Futu by 18.4% during the 2nd quarter. State Street Corp now owns 1,212,481 shares of the company’s stock valued at $149,851,000 after purchasing an additional 188,840 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. increased its position in shares of Futu by 14.0% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,135,821 shares of the company’s stock valued at $186,513,000 after buying an additional 139,473 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Futu by 805.2% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock valued at $195,933,000 after buying an additional 1,002,171 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $170.50 price target on shares of Futu in a research note on Thursday, May 28th. Zacks Research downgraded Futu from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Wall Street Zen lowered Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price for the company. in a research note on Monday, May 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $87.00 price target (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Futu presently has an average rating of “Moderate Buy” and an average price target of $162.80.

Futu Stock Performance

Shares of Futu stock opened at $98.96 on Friday. The stock has a market capitalization of $13.87 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 1.24 and a beta of 0.39. Futu Holdings Limited Sponsored ADR has a 52-week low of $80.50 and a 52-week high of $202.53. The company has a 50-day simple moving average of $100.71 and a two-hundred day simple moving average of $135.53.

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

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.