On March 28, 2023 at 10:28:39 ET an unusually large $787.25K block of Call contracts in Futu Holdings (FUTU) was bought, with a strike price of $45.00 / share, expiring in 31 days (on April 28, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 4.68 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in FUTU options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 26.01% Upside
As of March 28, 2023, the average one-year price target for Futu Holdings is $62.13. The forecasts range from a low of $27.27 to a high of $102.90. The average price target represents an increase of 26.01% from its latest reported closing price of $49.31.
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The projected annual revenue for Futu Holdings is $8,845MM, an increase of 30.65%. The projected annual non-GAAP EPS is $26.04.
What is the Fund Sentiment?
There are 350 funds or institutions reporting positions in Futu Holdings. This is an increase of 32 owner(s) or 10.06% in the last quarter. Average portfolio weight of all funds dedicated to FUTU is 0.32%, a decrease of 45.97%. Total shares owned by institutions increased in the last three months by 2.64% to 36,128K shares. The put/call ratio of FUTU is 1.44, indicating a bearish outlook.
What are Large Shareholders Doing?
Aspex Management holds 3,050K shares representing 2.19% ownership of the company. In it’s prior filing, the firm reported owning 4,160K shares, representing a decrease of 36.38%. The firm decreased its portfolio allocation in FUTU by 25.23% over the last quarter.
Capital Research Global Investors holds 2,497K shares representing 1.79% ownership of the company. In it’s prior filing, the firm reported owning 3,778K shares, representing a decrease of 51.31%. The firm decreased its portfolio allocation in FUTU by 33.73% over the last quarter.
AEPGX – EUROPACIFIC GROWTH FUND holds 2,077K shares representing 1.49% ownership of the company. In it’s prior filing, the firm reported owning 3,180K shares, representing a decrease of 53.12%. The firm decreased its portfolio allocation in FUTU by 34.91% over the last quarter.
Renaissance Technologies holds 1,698K shares representing 1.22% ownership of the company. In it’s prior filing, the firm reported owning 190K shares, representing an increase of 88.79%. The firm increased its portfolio allocation in FUTU by 840.09% over the last quarter.
Baillie Gifford & holds 1,119K shares representing 0.80% ownership of the company. In it’s prior filing, the firm reported owning 1,125K shares, representing a decrease of 0.52%. The firm decreased its portfolio allocation in FUTU by 57.83% over the last quarter.
Futu Holdings Background Information
(This description is provided by the company.)
Futu Holdings Limited is an advanced technology company transforming the investing experience by offering a fully digitized brokerage and wealth management platform. The Company primarily serves the emerging affluent Chinese population, pursuing a massive opportunity to facilitate a once-in-a-generation shift in the wealth management industry and build a digital gateway into broader financial services. The Company provides investing services through its proprietary digital platform, Futubull, a highly integrated application accessible through any mobile device, tablet or desktop. The Company’s primary fee-generating services include trade execution and margin financing which allow its clients to trade securities, such as stocks, warrants, options, futures and exchange-traded funds, or ETFs, across different markets. Futu enhances the user and client experience with market data and news, research, as well as powerful analytical tools, providing them with a data rich foundation to simplify the investing decision-making process. Futu has also embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders.
This article originally appeared on Fintel
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