Capital International Sarl acquired a new position in shares of OneConnect Financial Technology Co. (NASDAQ:OCFT) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 308,400 shares of the company’s stock, valued at approximately $3,093,000. Capital International Sarl owned about 0.08% of OneConnect Financial Technology at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace North America L.P. purchased a new stake in shares of OneConnect Financial Technology during the 4th quarter worth $2,791,000. Brookfield Hedge Solutions LLC purchased a new stake in shares of OneConnect Financial Technology during the 4th quarter worth $2,257,000. Alyeska Investment Group L.P. purchased a new stake in shares of OneConnect Financial Technology during the 4th quarter worth $1,273,000. Point72 Hong Kong Ltd purchased a new stake in OneConnect Financial Technology in the fourth quarter valued at about $608,000. Finally, Monashee Investment Management LLC purchased a new stake in OneConnect Financial Technology in the fourth quarter valued at about $1,914,000.
OCFT has been the subject of a number of research analyst reports. KeyCorp decreased their price target on OneConnect Financial Technology from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. initiated coverage on OneConnect Financial Technology in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $21.00 price target for the company. Bank of America initiated coverage on OneConnect Financial Technology in a research note on Tuesday, January 7th. They issued a “buy” rating and a $18.00 price target for the company. Goldman Sachs Group cut OneConnect Financial Technology from a “buy” rating to a “neutral” rating and set a $13.30 price target for the company. in a research note on Friday, February 21st. Finally, Morgan Stanley initiated coverage on OneConnect Financial Technology in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $16.00 price target for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. OneConnect Financial Technology presently has a consensus rating of “Buy” and a consensus price target of $16.46.
OneConnect Financial Technology stock traded up $0.06 during midday trading on Thursday, reaching $10.84. The company’s stock had a trading volume of 60,101 shares, compared to its average volume of 471,906. The stock’s 50-day simple moving average is $12.06. OneConnect Financial Technology Co. has a 52-week low of $9.43 and a 52-week high of $16.60.
OneConnect Financial Technology (NASDAQ:OCFT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.09). The firm had revenue of $109.74 million during the quarter, compared to analysts’ expectations of $103.14 million.
OneConnect Financial Technology Profile
OneConnect Financial Technology Co, Ltd. operates as a technology-as-a-service platform for financial institutions in the People's Republic of China. The company provides cloud-platform-based Fintech solutions, and online information and operating support services. It offers digital retail banking, small and medium enterprises (SME) financing and services, retail banking risk-management, SME banking risk management, auto insurance operations and services, asset management, asset-liability management, artificial intelligence customer service, core systems, and insurance sales management solutions.
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