Healthcare of Ontario Pension Plan Trust Fund Grows Position in Futu Holdings Limited Sponsored ADR $FUTU

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 576.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 287,000 shares of the company’s stock after buying an additional 244,600 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.20% of Futu worth $39,250,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Perseverance Asset Management International acquired a new position in Futu during the first quarter worth about $20,514,000. State of Wyoming raised its holdings in Futu by 21.4% in the 1st quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $209,000 after acquiring an additional 270 shares during the last quarter. Cetera Investment Advisers raised its holdings in Futu by 74.5% in the 1st quarter. Cetera Investment Advisers now owns 9,699 shares of the company’s stock valued at $1,326,000 after acquiring an additional 4,142 shares during the last quarter. Himension Capital Singapore PTE. LTD. lifted its stake in Futu by 21.5% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 68,881 shares of the company’s stock worth $9,420,000 after purchasing an additional 12,205 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Futu by 12.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,316 shares of the company’s stock worth $453,000 after purchasing an additional 374 shares in the last quarter.

Wall Street Analysts Forecast Growth

FUTU has been the topic of several recent research reports. Zacks Research cut Futu from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target for the company. in a report on Monday, May 25th. Wall Street Zen downgraded Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $87.00 price objective (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $170.50 price objective on shares of Futu in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Futu has a consensus rating of “Moderate Buy” and an average price target of $162.80.

More Futu News

Here are the key news stories impacting Futu this week:

• Negative Sentiment: Multiple firms reiterated that a securities fraud class action has been filed against Futu and are actively soliciting investors with losses to join the case or seek lead-plaintiff status before the August 25 deadline.
• Negative Sentiment: One notice specifically alleges the lawsuit involves concealed regulatory penalties, which could be interpreted by investors as a sign of heightened compliance and legal risk. Article: FUTU Shareholder Alert
• Neutral Sentiment: Another article from Zacks was a valuation comparison of Futu versus Orix, which is more informational than market-moving and does not appear to be the main driver of trading today. Article: IX vs. FUTU

Futu Trading Up 0.4%

Futu stock opened at $99.36 on Friday. The company has a 50-day moving average price of $100.01 and a 200 day moving average price of $135.27. Futu Holdings Limited Sponsored ADR has a 12-month low of $80.50 and a 12-month high of $202.53. The stock has a market cap of $13.93 billion, a P/E ratio of 10.93, a PEG ratio of 1.17 and a beta of 0.39.

Futu (NASDAQ:FUTU) last posted its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($2.12). Futu had a net margin of 41.87% and a return on equity of 26.48%. The firm had revenue of $694.17 million during the quarter, compared to analyst estimates of $761.35 million. As a group, analysts forecast that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current year.

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.