Futu Holdings Limited Sponsored ADR $FUTU Shares Sold by TT International Asset Management LTD

TT International Asset Management LTD cut its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 41.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,541 shares of the company’s stock after selling 9,520 shares during the period. Futu accounts for 0.2% of TT International Asset Management LTD’s holdings, making the stock its 20th biggest position. TT International Asset Management LTD’s holdings in Futu were worth $1,497,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quantitative Investment Management LLC purchased a new stake in shares of Futu during the 2nd quarter worth about $1,039,000. Greenwoods Asset Management Hong Kong Ltd. increased its stake in shares of Futu by 9.8% during the second quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,093,634 shares of the company’s stock worth $102,517,000 after purchasing an additional 97,286 shares in the last quarter. Jennison Associates LLC increased its stake in Futu by 31.1% during the 1st quarter. Jennison Associates LLC now owns 211,509 shares of the company’s stock worth $28,926,000 after buying an additional 50,229 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Futu by 7.2% during the first quarter. Hsbc Holdings PLC now owns 332,501 shares of the company’s stock worth $45,448,000 after purchasing an additional 22,469 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Futu by 576.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 287,000 shares of the company’s stock valued at $39,250,000 after buying an additional 244,600 shares during the last quarter.

Futu Stock Down 0.5%

Shares of FUTU opened at $102.61 on Wednesday. The stock has a 50 day moving average price of $111.08 and a 200 day moving average price of $124.90. Futu Holdings Limited Sponsored ADR has a 52-week low of $80.50 and a 52-week high of $192.26. The company has a market capitalization of $14.38 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 1.02 and a beta of 0.71.

Futu (NASDAQ:FUTU) last posted its earnings results on Thursday, August 20th. The company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.35. The firm had revenue of $852.66 million for the quarter, compared to the consensus estimate of $786.07 million. Futu had a net margin of 42.95% and a return on equity of 28.20%. On average, equities analysts anticipate that Futu Holdings Limited Sponsored ADR will post 9.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FUTU. Wall Street Zen upgraded Futu from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings cut shares of Futu from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Finally, Zacks Research raised Futu from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Futu has a consensus rating of “Hold” and a consensus target price of $139.91.

Futu Company Profile

Futu Holdings Limited is a technology-driven financial services company that operates online brokerage and wealth management platforms. Through its Futubull and moomoo applications, the company provides investors with access to securities trading, market data, news, analysis tools, and other digital investing services.

Futu’s platforms support trading and investment-related services across products such as equities, exchange-traded funds, options, futures, and other securities, subject to local regulations.