Public Sector Pension Investment Board Buys 3,700 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Public Sector Pension Investment Board grew its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 7.5% during the third quarter, Holdings Channel reports. The institutional investor owned 53,214 shares of the company’s stock after buying an additional 3,700 shares during the period. Public Sector Pension Investment Board’s holdings in Futu were worth $9,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. raised its stake in Futu by 29.8% during the second quarter. Resona Asset Management Co. Ltd. now owns 20,264 shares of the company’s stock valued at $2,499,000 after purchasing an additional 4,650 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Futu by 936.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 51,620 shares of the company’s stock worth $8,977,000 after buying an additional 46,639 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Futu by 5.2% in the 2nd quarter. ARK Investment Management LLC now owns 130,439 shares of the company’s stock valued at $16,121,000 after acquiring an additional 6,480 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in Futu during the third quarter worth approximately $19,420,000. Finally, Lingohr Asset Management GmbH purchased a new stake in Futu during the third quarter valued at approximately $2,922,000.

Futu Price Performance

Futu stock opened at $146.72 on Tuesday. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 0.38 and a beta of 0.43. The firm has a 50-day moving average of $165.99 and a two-hundred day moving average of $171.57. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective for the company in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Barclays increased 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, Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Futu has a consensus rating of “Buy” and an average target price of $205.06.

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.