Schonfeld Strategic Advisors LLC Invests $3.28 Million in OneConnect Financial Technology Co. (NASDAQ:OCFT)
Schonfeld Strategic Advisors LLC acquired a new stake in OneConnect Financial Technology Co. (NASDAQ:OCFT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 326,933 shares of the company’s stock, valued at approximately $3,279,000. Schonfeld Strategic Advisors LLC owned about 0.09% of OneConnect Financial Technology at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas bought a new stake in shares of OneConnect Financial Technology during the 4th quarter worth $100,000. Credit Suisse AG bought a new position in OneConnect Financial Technology in the fourth quarter valued at about $154,000. Alyeska Investment Group L.P. bought a new position in OneConnect Financial Technology in the fourth quarter valued at about $1,273,000. Monashee Investment Management LLC bought a new position in OneConnect Financial Technology in the fourth quarter valued at about $1,914,000. Finally, Brookfield Hedge Solutions LLC acquired a new stake in shares of OneConnect Financial Technology during the fourth quarter valued at about $2,257,000.
NASDAQ:OCFT traded down $0.35 during trading hours on Friday, hitting $10.63. 284,612 shares of the company were exchanged, compared to its average volume of 484,255. OneConnect Financial Technology Co. has a one year low of $9.43 and a one year high of $16.60. The business’s fifty day moving average is $12.26.
OneConnect Financial Technology (NASDAQ:OCFT) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.09). The business had revenue of $109.74 million during the quarter, compared to analysts’ expectations of $103.14 million.
Several research firms have recently issued reports on OCFT. JPMorgan Chase & Co. started coverage on OneConnect Financial Technology in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $21.00 price objective for the company. Goldman Sachs Group downgraded shares of OneConnect Financial Technology from a “buy” rating to a “neutral” rating and set a $13.30 target price on the stock. in a research report on Friday, February 21st. KeyCorp started coverage on shares of OneConnect Financial Technology in a report on Tuesday, January 7th. They set an “overweight” rating and a $15.00 target price on the stock. Bank of America began coverage on shares of OneConnect Financial Technology in a research report on Tuesday, January 7th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Morgan Stanley started coverage on shares of OneConnect Financial Technology in a research note on Tuesday, January 7th. They set an “overweight” rating and a $16.00 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $16.66.
OneConnect Financial Technology Company 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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