Pinpoint Asset Management Singapore Pte. Ltd. Decreases Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Pinpoint Asset Management Singapore Pte. Ltd. decreased its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 45.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,612 shares of the company’s stock after selling 8,044 shares during the quarter. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in Futu were worth $1,672,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. purchased a new position in Futu in the 1st quarter valued at about $27,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Futu during the second quarter valued at approximately $28,000. Cooper Investors PTY Ltd. acquired a new position in shares of Futu during the third quarter valued at approximately $29,000. First Horizon Advisors Inc. purchased a new position in shares of Futu in the second quarter valued at approximately $35,000. Finally, TD Private Client Wealth LLC boosted its stake in shares of Futu by 6,075.0% in the third quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock worth $43,000 after acquiring an additional 243 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FUTU. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price target on the stock in a research note on Monday, February 2nd. Finally, Barclays boosted 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 equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $205.06.

Futu Stock Performance

NASDAQ FUTU opened at $143.46 on Monday. The stock’s fifty day moving average is $161.07 and its two-hundred day moving average is $170.11. The firm has a market capitalization of $19.96 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 0.37 and a beta of 0.38. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $70.60 and a fifty-two week high of $202.53.

Futu Company 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.