Greenwoods Asset Management Hong Kong Ltd. Trims Stake in Futu Holdings Limited Sponsored ADR $FUTU

Greenwoods Asset Management Hong Kong Ltd. decreased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 19.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,531,389 shares of the company’s stock after selling 370,246 shares during the quarter. Futu accounts for 6.6% of Greenwoods Asset Management Hong Kong Ltd.’s portfolio, making the stock its 5th largest position. Greenwoods Asset Management Hong Kong Ltd.’s holdings in Futu were worth $189,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FUTU. Erste Asset Management GmbH purchased a new position in Futu in the 1st quarter worth $1,036,000. Matthews International Capital Management LLC purchased a new stake in Futu during the 2nd quarter valued at about $2,809,000. Charles Schwab Investment Management Inc. boosted its holdings in Futu by 8.1% during 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 during the period. Swedbank AB grew its position 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 acquiring an additional 44,500 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in Futu in the first quarter valued at approximately $730,000.

Futu Price Performance

NASDAQ:FUTU opened at $186.56 on Wednesday. The company has a market capitalization of $25.96 billion, a PE ratio of 25.88, a P/E/G ratio of 0.67 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 1-year low of $70.60 and a 1-year high of $202.53. The firm’s 50-day moving average price is $177.34 and its 200-day moving average price is $149.58.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. raised their target price on Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Bank of America increased their price objective on Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Finally, Daiwa America upgraded Futu to a “strong-buy” rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Futu has a consensus rating of “Buy” and an average price target 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.