8,119 Shares in Futu Holdings Limited Sponsored ADR $FUTU Purchased by SEB Asset Management AB

SEB Asset Management AB bought a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,119 shares of the company’s stock, valued at approximately $1,110,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FUTU. AQR Capital Management LLC purchased a new position in shares of Futu during the first quarter worth about $235,000. Jones Financial Companies Lllp increased its position in shares of Futu by 442.4% in the first quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock worth $66,000 after purchasing an additional 522 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Futu by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company’s stock valued at $46,997,000 after purchasing an additional 16,255 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Futu in the first quarter valued at approximately $27,000. Finally, American Century Companies Inc. lifted its position in Futu by 9.2% during the second quarter. American Century Companies Inc. now owns 9,905 shares of the company’s stock valued at $1,224,000 after purchasing an additional 836 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on FUTU shares. Wall Street Zen cut shares of Futu from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $170.50 price objective on shares of Futu in a report on Thursday, May 28th. The Goldman Sachs Group lowered shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price for the company. in a research report on Monday, May 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $87.00 target price (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. Finally, Zacks Research downgraded Futu from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.80.

Futu Trading Down 6.7%

Shares of NASDAQ:FUTU opened at $98.96 on Friday. The company has a market cap of $13.87 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 1.24 and a beta of 0.39. The company has a 50-day moving average price of $100.71 and a 200-day moving average price of $135.53. Futu Holdings Limited Sponsored ADR has a 12 month low of $80.50 and a 12 month high of $202.53.

Futu (NASDAQ:FUTU) last posted its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($2.12). Futu had a return on equity of 26.48% and a net margin of 41.87%.The business had revenue of $694.17 million during the quarter, compared to the consensus estimate of $761.35 million. As a group, research analysts forecast that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current fiscal year.

Futu Profile

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.