TD Asset Management Inc Has $2.34 Million Position in Futu Holdings Limited Sponsored ADR $FUTU

TD Asset Management Inc increased its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,962 shares of the company’s stock after acquiring an additional 1,678 shares during the period. TD Asset Management Inc’s holdings in Futu were worth $2,344,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FUTU. Atlas Capital Advisors Inc. acquired a new position in Futu during the first quarter worth $26,000. Geneos Wealth Management Inc. acquired a new position in Futu during the first quarter worth $27,000. Allianz SE acquired a new position in Futu during the first quarter worth $30,000. SVB Wealth LLC acquired a new position in Futu during the first quarter worth $40,000. Finally, Smartleaf Asset Management LLC raised its stake in Futu by 38.7% during the first quarter. Smartleaf Asset Management LLC now owns 616 shares of the company’s stock worth $64,000 after acquiring an additional 172 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FUTU. Dbs Bank upgraded Futu to a “moderate buy” rating in a research note on Thursday, September 4th. Daiwa America upgraded Futu to a “strong-buy” rating in a research note on Tuesday, August 12th. Bank of America increased their price objective on Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Daiwa Capital Markets started coverage on Futu in a report on Monday, August 11th. They set a “buy” rating and a $190.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Futu presently has an average rating of “Moderate Buy” and an average target price of $190.43.

Futu Stock Performance

Shares of FUTU stock opened at $169.21 on Wednesday. The stock’s fifty day moving average is $176.43 and its 200-day moving average is $137.88. The stock has a market capitalization of $23.54 billion, a PE ratio of 23.47, a PEG ratio of 0.73 and a beta of 0.48. Futu Holdings Limited Sponsored ADR has a 52 week low of $70.60 and a 52 week high of $199.86.

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.