Baader Bank Aktiengesellschaft Reduces Position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

Baader Bank Aktiengesellschaft decreased its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,250 shares of the company’s stock after selling 250 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Futu were worth $1,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Futu in the fourth quarter valued at about $39,163,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Futu by 1,137.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company’s stock worth $1,791,000 after purchasing an additional 16,086 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Futu during the first quarter worth about $77,172,000. GAM Holding AG lifted its position in shares of Futu by 41.7% during the first quarter. GAM Holding AG now owns 8,500 shares of the company’s stock worth $870,000 after purchasing an additional 2,500 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in Futu during the 4th quarter worth approximately $11,482,000.

Futu Trading Down 4.6%

Shares of FUTU opened at $155.23 on Wednesday. The firm has a market cap of $21.60 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 1.28 and a beta of 0.60. The company’s 50 day simple moving average is $126.98 and its 200-day simple moving average is $109.38. Futu Holdings Limited Sponsored ADR has a 12-month low of $51.80 and a 12-month high of $174.36.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.01. Futu had a return on equity of 23.07% and a net margin of 41.74%. The firm had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. As a group, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on FUTU. Citigroup increased their price target on shares of Futu from $113.00 to $176.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Barclays began coverage on shares of Futu in a research note on Thursday, July 17th. They issued an “overweight” rating and a $176.00 price target on the stock. Finally, Bank of America increased their price target on shares of Futu from $123.70 to $143.90 and gave the company a “buy” rating in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and an average target price of $152.82.

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.