State of New Jersey Common Pension Fund D Cuts Holdings in Futu Holdings Limited (NASDAQ:FUTU)

State of New Jersey Common Pension Fund D lessened its holdings in Futu Holdings Limited (NASDAQ:FUTU – Free Report) by 48.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. Furniture and Exchange. The firm owned 30,060 shares of the company’s stock after selling 28,440 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Futu were worth $1,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Bank of Canada FI raised its stake in shares of Futu by 3,253,333.3% during the second quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock valued at $18,790,000 after buying an additional 292,800 shares during the period. Acadian Asset Management LLC boosted its stake in Futu by 5,492.5% in the second quarter. Acadian Asset Management LLC now owns 265,869 shares of the company’s stock valued at $17,419,000 after buying an additional 261,115 shares during the period. Norges Bank purchased a new position in shares of Futu during the fourth quarter valued at $11,472,000. Hsbc Holdings PLC boosted its stake in Futu by 889.5% during the fourth quarter. Hsbc Holdings PLC now owns 175,458 shares of the company’s stock valued at $9,586,000 after purchasing an additional 197,683 shares during the period. Finally, Prudential PLC raised its stake in Futu by 23.2% in the fourth quarter. Prudential PLC now owns 597,476 shares of the company’s stock valued at $32,640,000 after purchasing an additional 112,497 shares during the period.

Futu price performance

Shares of FUTU stock opened at $65.53 on Friday. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $81.86. The stock’s 50-day moving average is $60.93 and its 200-day moving average is $63.97. The company has a market cap of $9.03 billion, a P/E ratio of 17.34, a PEG ratio of 0.92 and a beta of 0.72.

Futu (NASDAQ:FUTU – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The business had revenue of $400.73 million during the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. On average, analysts anticipate that Futu Holdings Limited will post 4.51 EPS for the current year.

Analysts on Wall Street are forecasting an increase

Several brokerages have recently commented on FUTU. Bank of America upped their target price on Futu from $77.60 to $80.20 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised Futu from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $62.00 to $92.00 in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Moderate Buy” and an average target price of $71.57, according to MarketBeat.com.

See the latest stock report on Futu

Futu Company Profile

(Free Report)

Futu Holdings Limited provides digitized securities brokerage and wealth management product distribution services in Hong Kong and internationally. It offers online financial services including securities brokerage and derivatives trading, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.

See Also

Get news and reviews for Futu Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Futu and related companies with MarketBeat.com’s FREE daily email newsletter.