State of New Jersey Common Pension Fund D increased its stake in Futu Holdings Limited (NASDAQ:FUTU – Free Report) by 20.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,700 shares of the company’s stock after purchasing an additional 9,400 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Futu were worth $3,043,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. Advisors Preferred LLC acquired a new stake in Futu in the fourth quarter valued at about $53,000. Assetmark Inc. acquired a new stake in Futu in the third quarter valued at about $61,000. Compagnie Lombard Odier SCmA acquired a new stake in Futu in the fourth quarter valued at about $148,000. Signaturefd LLC boosted its stake in Futu by 12.2% in the third quarter. Signaturefd LLC now owns 2,615 shares of the company’s stock valued at $151,000 after buying an additional 285 shares in the last quarter. Finally, IFP Advisors Inc acquired a new stake in Futu in the third quarter valued at about $169,000.
Futu Price Performance
Shares of FUTU opened at $66.38 on Friday. Futu Holdings Limited has a 52-week low of $35.91 and a 52-week high of $68.92. The business’s 50 day moving average price is $56.21 and its two-hundred day moving average price is $54.58.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. UBS Group raised Futu from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Friday, January 5th. JPMorgan Chase & Co. lowered Futu from an “overweight” rating to a “neutral” rating and cut their price target for the company from $64.00 to $62.00 in a research note on Friday, March 15th. CLSA upgraded Futu from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $65.00 in a report on Monday, March 18th. Morgan Stanley upgraded Futu from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $40.00 to $50.00 in a report on Thursday, January 4th. Finally, Citigroup reduced their price target on Futu from $76.90 to $75.30 and set a “buy” rating on the stock in a report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.83.
Check Out Our Latest Stock Report on Futu
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.
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