State of New Jersey Common Pension Fund D Has $2.18 Million Holdings in Futu Holdings Limited (NASDAQ:FUTU)

State of New Jersey Common Pension Fund D cut its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 29.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 27,260 shares of the company’s stock after selling 11,600 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Futu were worth $2,181,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Futu by 31.0% in 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 period. CWM LLC increased its holdings in Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Futu by 14.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock valued at $84,000 after purchasing an additional 112 shares during the period. Venturi Wealth Management LLC acquired a new stake in Futu in the third quarter valued at $92,000. Finally, Janus Henderson Group PLC acquired a new stake in Futu in the third quarter valued at $201,000.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $115.00 in a report on Monday, November 18th. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and increased their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.40.

Futu Price Performance

FUTU stock opened at $121.40 on Friday. The stock has a market capitalization of $16.73 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 0.82 and a beta of 0.76. The company’s 50-day moving average is $93.05 and its 200-day moving average is $85.73. Futu Holdings Limited has a 1 year low of $49.63 and a 1 year high of $130.88.

Futu Company 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.