State of New Jersey Common Pension Fund D decreased its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 29.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 27,260 shares of the company's stock after selling 11,600 shares during the period. State of New Jersey Common Pension Fund D's holdings in Futu were worth $2,181,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock valued at $62,000 after purchasing an additional 184 shares during the last quarter. CWM LLC boosted its holdings in shares of Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company's stock worth $71,000 after buying an additional 300 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Futu by 14.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company's stock valued at $84,000 after buying an additional 112 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Futu in the 3rd quarter worth $92,000. Finally, Janus Henderson Group PLC acquired a new position in Futu during the 3rd quarter worth $201,000.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Citigroup downgraded Futu from a "buy" rating to a "neutral" rating and raised their price target for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised Futu from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $70.00 to $115.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Futu currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.40.
Get Our Latest Analysis on FUTU
Futu Stock Performance
Shares of FUTU traded up $0.81 during trading hours on Friday, reaching $121.40. 4,369,566 shares of the company traded hands, compared to its average volume of 2,772,165. Futu Holdings Limited has a 1-year low of $49.63 and a 1-year high of $130.88. The stock has a market cap of $16.73 billion, a P/E ratio of 29.75, a price-to-earnings-growth ratio of 0.79 and a beta of 0.76. The stock's fifty day moving average is $93.05 and its 200 day moving average is $86.12.
Futu Company Profile
(
Free Report)
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.
See Also
Before you consider Futu, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Futu wasn't on the list.
While Futu currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
