Yunqi Capital Ltd Acquires New Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Yunqi Capital Ltd purchased a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 130,000 shares of the company’s stock, valued at approximately $16,067,000. Futu accounts for 11.5% of Yunqi Capital Ltd’s holdings, making the stock its 4th largest position. Yunqi Capital Ltd owned approximately 0.09% of Futu at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new stake in Futu during the 1st quarter worth approximately $1,036,000. Matthews International Capital Management LLC acquired a new stake in shares of Futu during the second quarter worth $2,809,000. Charles Schwab Investment Management Inc. lifted its position in Futu by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company’s stock valued at $6,901,000 after acquiring an additional 5,056 shares in the last quarter. Swedbank AB increased its holdings in Futu by 729.5% during the 2nd quarter. Swedbank AB now owns 50,600 shares of the company’s stock worth $6,254,000 after purchasing an additional 44,500 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Futu in the 1st quarter valued at about $16,112,000.

Futu Price Performance

Shares of NASDAQ FUTU opened at $185.34 on Friday. 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 $25.79 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 0.66 and a beta of 0.49. The stock’s fifty day moving average price is $177.31 and its two-hundred day moving average price is $147.37.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FUTU shares. Barclays raised their target price on shares of Futu from $176.00 to $232.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Citigroup boosted their price target on Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Zacks Research upgraded Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. raised their target price on shares of Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, Daiwa Capital Markets initiated coverage on shares of Futu in a research report on Monday, August 11th. They issued a “buy” rating and a $190.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average 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.