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

State of New Jersey Common Pension Fund D grew its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 29.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,860 shares of the company’s stock after purchasing 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 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Marshall Wace LLP increased its stake in Futu by 71.5% in the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock valued at $99,813,000 after purchasing an additional 634,369 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Futu during the 2nd quarter valued at about $31,490,000. Veritas Asset Management LLP acquired a new position in shares of Futu during the 3rd quarter valued at about $39,547,000. Yong Rong HK Asset Management Ltd lifted its holdings in shares of Futu by 2,525.3% during the 3rd quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company’s stock worth $37,667,000 after acquiring an additional 378,800 shares during the period. Finally, National Bank of Canada FI boosted its position 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 worth $18,790,000 after acquiring an additional 292,800 shares during the last quarter.

Analysts Set New Price Targets

Separately, Bank of America upped their price target on shares of Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.97.

Futu Stock Performance

FUTU opened at $93.02 on Wednesday. The company has a market cap of $12.82 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 0.98 and a beta of 0.75. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $130.50. The firm has a 50 day moving average price of $87.56 and a 200 day moving average price of $74.43.

Futu (NASDAQ:FUTU) last issued its earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The business had revenue of $400.73 million for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. On average, sell-side analysts predict that Futu Holdings Limited will post 4.75 earnings per share for the current year.

About Futu

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.