AustralianSuper Pty Ltd Has $13.15 Million Stake in Futu Holdings Limited Sponsored ADR $FUTU

AustralianSuper Pty Ltd boosted its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 22.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 106,373 shares of the company’s stock after purchasing an additional 19,705 shares during the period. AustralianSuper Pty Ltd’s holdings in Futu were worth $13,147,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Futu during the second quarter valued at about $3,137,000. Maytree Asset Management Ltd acquired a new position in shares of Futu during the second quarter valued at about $3,189,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Futu during the second quarter valued at about $8,529,000. Envestnet Asset Management Inc. raised its holdings in shares of Futu by 19.3% during the second quarter. Envestnet Asset Management Inc. now owns 11,911 shares of the company’s stock valued at $1,472,000 after purchasing an additional 1,931 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Futu by 6.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 30,360 shares of the company’s stock valued at $3,752,000 after purchasing an additional 1,800 shares during the period.

Futu Price Performance

FUTU opened at $182.04 on Tuesday. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $70.60 and a fifty-two week high of $199.86. The company’s 50-day moving average is $176.38 and its 200 day moving average is $140.98. The firm has a market capitalization of $25.33 billion, a PE ratio of 25.25, a P/E/G ratio of 0.78 and a beta of 0.48.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Bank of America upped their price objective on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Daiwa America upgraded shares of Futu to a “strong-buy” rating in a report on Tuesday, August 12th. Dbs Bank upgraded shares of Futu to a “moderate buy” rating in a report on Thursday, September 4th. Zacks Research lowered shares of Futu from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Daiwa Capital Markets assumed coverage on shares of Futu in a report on Monday, August 11th. They set a “buy” rating and a $190.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Futu has a consensus rating of “Moderate Buy” and a consensus target price of $190.43.

Futu Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.