Capital Research Global Investors Buys New Shares in OneConnect Financial Technology Co. (NASDAQ:OCFT)

   2020-03-29 12:03

Capital Research Global Investors bought a new stake in shares of OneConnect Financial Technology Co. (NASDAQ:OCFT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,200,000 shares of the company’s stock, valued at approximately $52,156,000. Capital Research Global Investors owned about 1.42% of OneConnect Financial Technology at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OCFT. Schonfeld Strategic Advisors LLC acquired a new stake in OneConnect Financial Technology during the fourth quarter valued at approximately $3,279,000. Marshall Wace North America L.P. acquired a new stake in OneConnect Financial Technology during the fourth quarter valued at approximately $2,791,000. Goldman Sachs Group Inc. acquired a new stake in OneConnect Financial Technology during the fourth quarter valued at approximately $2,439,000. Brookfield Hedge Solutions LLC acquired a new stake in OneConnect Financial Technology during the fourth quarter valued at approximately $2,257,000. Finally, Monashee Investment Management LLC acquired a new stake in OneConnect Financial Technology during the fourth quarter valued at approximately $1,914,000.



Shares of 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 company has a 50 day moving average price of $12.00.

OneConnect Financial Technology (NASDAQ:OCFT) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.09). The company had revenue of $109.74 million for the quarter, compared to analyst estimates of $103.14 million.

Several analysts recently commented on OCFT shares. Goldman Sachs Group lowered 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 research note on Friday, February 21st. JPMorgan Chase & Co. started coverage on shares of OneConnect Financial Technology in a research note on Thursday, January 23rd. They set an “overweight” rating and a $21.00 target price for the company. Morgan Stanley initiated coverage on shares of OneConnect Financial Technology in a research note on Tuesday, January 7th. They set an “overweight” rating and a $16.00 target price for the company. KeyCorp reduced their price target on shares of OneConnect Financial Technology from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Bank of America initiated 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $16.46.

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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Institutional Ownership by Quarter for OneConnect Financial Technology (NASDAQ:OCFT)

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