Futu Holdings Limited (NASDAQ:FUTU) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its holdings in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 29.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,860 shares of the company's stock after acquiring an additional 8,800 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Futu were worth $3,717,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FUTU. Marshall Wace LLP raised its position in shares of Futu by 71.5% during the 2nd quarter. Marshall Wace LLP now owns 1,521,314 shares of the company's stock worth $99,813,000 after buying an additional 634,369 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in Futu in the 2nd quarter valued at approximately $31,490,000. Veritas Asset Management LLP acquired a new stake in Futu during the third quarter valued at approximately $39,547,000. Yong Rong HK Asset Management Ltd grew its holdings in shares of Futu by 2,525.3% in the 3rd quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company's stock worth $37,667,000 after purchasing an additional 378,800 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Futu by 3,253,333.3% in 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 in the last quarter.

Analysts Set New Price Targets

Separately, Bank of America upped their price objective on Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.97.

Futu Stock Performance

FUTU stock traded down $2.28 during midday trading on Wednesday, reaching $90.74. 2,494,376 shares of the company traded hands, compared to its average volume of 2,359,022. The business has a 50 day moving average of $88.20 and a 200-day moving average of $74.62. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 0.97 and a beta of 0.75. Futu Holdings Limited has a 52-week low of $43.61 and a 52-week high of $130.50.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 EPS 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%. Research analysts anticipate that Futu Holdings Limited will post 4.75 earnings per share for the current year.

Futu Profile

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.