Capital International Investors Acquires Shares of 1,358,700 OneConnect Financial Technology Co. (NASDAQ:OCFT)
Capital International Investors acquired a new stake in OneConnect Financial Technology Co. (NASDAQ:OCFT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,358,700 shares of the company’s stock, valued at approximately $13,628,000. Capital International Investors owned approximately 0.37% of OneConnect Financial Technology at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors acquired a new position in OneConnect Financial Technology in the fourth quarter valued at $52,156,000. Point72 Hong Kong Ltd acquired a new position in OneConnect Financial Technology in the fourth quarter valued at $608,000. Schonfeld Strategic Advisors LLC acquired a new position in OneConnect Financial Technology in the fourth quarter valued at $3,279,000. Marshall Wace North America L.P. acquired a new position in OneConnect Financial Technology in the fourth quarter valued at $2,791,000. Finally, Goldman Sachs Group Inc. acquired a new position in OneConnect Financial Technology in the fourth quarter valued at $2,439,000.
Several equities analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of OneConnect Financial Technology in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $16.00 price objective for the company. Bank of America assumed coverage on shares of OneConnect Financial Technology in a report on Tuesday, January 7th. They issued a “buy” rating and a $18.00 target price for the company. KeyCorp reduced their target price on shares of OneConnect Financial Technology from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. assumed coverage on shares of OneConnect Financial Technology in a report on Thursday, January 23rd. They issued an “overweight” rating and a $21.00 target price for the company. Finally, Goldman Sachs Group cut shares of OneConnect Financial Technology from a “buy” rating to a “neutral” rating and set a $13.30 target price for the company. in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $16.46.
NASDAQ OCFT opened at $10.81 on Friday. OneConnect Financial Technology Co. has a 52-week low of $9.43 and a 52-week high of $16.60. The business’s 50-day moving average price is $12.00.
OneConnect Financial Technology (NASDAQ:OCFT) last posted its quarterly earnings results 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 company had revenue of $109.74 million for the quarter, compared to analysts’ expectations of $103.14 million.
About OneConnect Financial Technology
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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