Nikko Asset Management Americas Inc. Has $30.02 Million Stake in Futu Holdings Limited Sponsored ADR $FUTU

Nikko Asset Management Americas Inc. lifted its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 18.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,210 shares of the company’s stock after purchasing an additional 37,078 shares during the quarter. Nikko Asset Management Americas Inc. owned 0.17% of Futu worth $30,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. LFA Lugano Financial Advisors SA bought a new stake in shares of Futu during the second quarter worth $28,000. Hantz Financial Services Inc. boosted its holdings in shares of Futu by 4,116.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 247 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Futu in the 1st quarter worth about $27,000. First Horizon Advisors Inc. acquired a new position in Futu in the 2nd quarter worth about $35,000. Finally, SVB Wealth LLC bought a new position in Futu in the first quarter valued at about $40,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays upped their price objective on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Dbs Bank upgraded Futu to a “moderate buy” rating in a report on Thursday, September 4th. Finally, Citigroup raised their target price on Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $203.67.

Futu Stock Performance

Shares of FUTU opened at $171.45 on Friday. The firm has a market cap of $23.86 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 0.57 and a beta of 0.19. Futu Holdings Limited Sponsored ADR has a 52-week low of $70.60 and a 52-week high of $202.53. The business’s 50 day moving average price is $173.46 and its two-hundred day moving average price is $159.83.

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

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.