KBC Group NV Sells 791 Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

KBC Group NV decreased its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,901 shares of the company’s stock after selling 791 shares during the quarter. KBC Group NV’s holdings in Futu were worth $4,289,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Achmea Investment Management B.V. boosted its stake in shares of Futu by 91.0% during the 1st quarter. Achmea Investment Management B.V. now owns 21,716 shares of the company’s stock worth $2,223,000 after buying an additional 10,345 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Futu by 266.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 55,000 shares of the company’s stock worth $5,629,000 after acquiring an additional 40,000 shares in the last quarter. Spire Wealth Management raised its holdings in Futu by 2,066.7% during the first quarter. Spire Wealth Management now owns 650 shares of the company’s stock worth $67,000 after acquiring an additional 620 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in Futu by 167.1% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 2,276 shares of the company’s stock valued at $233,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Futu by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 22,125 shares of the company’s stock valued at $2,264,000 after purchasing an additional 615 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FUTU shares. UBS Group increased their price objective on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a report on Monday, March 17th. JPMorgan Chase & Co. upped their price target on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Bank of America lifted their price objective on shares of Futu from $123.70 to $143.90 and gave the company a “buy” rating in a research report on Wednesday, June 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Futu currently has a consensus rating of “Moderate Buy” and an average target price of $131.98.

Futu Trading Down 1.1%

FUTU stock opened at $120.32 on Thursday. Futu Holdings Limited Sponsored ADR has a 1-year low of $51.80 and a 1-year high of $130.88. The business’s 50 day simple moving average is $109.09 and its 200 day simple moving average is $100.48. The firm has a market capitalization of $16.74 billion, a PE ratio of 20.05, a PEG ratio of 0.96 and a beta of 0.60.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Thursday, May 29th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. The firm had revenue of $603.43 million during the quarter, compared to analysts’ expectations of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. As a group, sell-side analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

About Futu

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.