SG Americas Securities LLC Purchases 22,749 Shares of Futu Holdings Limited Sponsored ADR $FUTU

SG Americas Securities LLC boosted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 141.8% in the third quarter, Holdings Channel reports. The fund owned 38,791 shares of the company’s stock after acquiring an additional 22,749 shares during the period. SG Americas Securities LLC’s holdings in Futu were worth $6,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Aspex Management HK Ltd increased its stake in shares of Futu by 21.1% in the second quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock worth $419,379,000 after purchasing an additional 591,082 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Futu by 113.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock valued at $190,826,000 after buying an additional 822,343 shares during the last quarter. State Street Corp increased its position in Futu by 18.4% in the 2nd quarter. State Street Corp now owns 1,212,481 shares of the company’s stock worth $149,851,000 after buying an additional 188,840 shares during the period. Bank of America Corp DE increased its position in Futu by 34.4% in the 2nd quarter. Bank of America Corp DE now owns 1,006,656 shares of the company’s stock worth $124,413,000 after buying an additional 257,389 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Futu by 883.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company’s stock worth $101,262,000 after buying an additional 888,760 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FUTU shares. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. Finally, Barclays raised their price target on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Futu has an average rating of “Buy” and an average price target of $203.67.

Futu Trading Down 0.9%

FUTU opened at $178.49 on Friday. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53. The stock’s 50 day simple moving average is $171.82 and its 200-day simple moving average is $167.40. The stock has a market cap of $24.84 billion, a PE ratio of 19.99, a P/E/G ratio of 0.53 and a beta of 0.20.

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

About Futu

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.