Massachusetts Financial Services Co. MA Trims Holdings in OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT)
A number of other institutional investors also recently made changes to their positions in the stock. LA Financiere DE L Echiquier lifted its position in OneConnect Financial Technology by 14.0% during the third quarter. LA Financiere DE L Echiquier now owns 895,000 shares of the company’s stock worth $19,064,000 after buying an additional 110,000 shares in the last quarter. Bank of New York Mellon Corp lifted its position in OneConnect Financial Technology by 20.3% during the second quarter. Bank of New York Mellon Corp now owns 776,600 shares of the company’s stock worth $14,181,000 after buying an additional 131,293 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in OneConnect Financial Technology in the second quarter valued at $11,227,000. Principal Financial Group Inc. purchased a new stake in OneConnect Financial Technology in the second quarter valued at $10,316,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in OneConnect Financial Technology in the third quarter valued at $6,167,000.
OCFT has been the topic of a number of research analyst reports. Zacks Investment Research downgraded OneConnect Financial Technology from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. KeyCorp lifted their target price on OneConnect Financial Technology from $22.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Smith Barney Citigroup initiated coverage on OneConnect Financial Technology in a research report on Thursday, November 5th. They issued a “buy” rating and a $28.00 target price on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on OneConnect Financial Technology in a research report on Thursday, November 5th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, BidaskClub upgraded OneConnect Financial Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, November 10th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $22.29.
OCFT opened at $21.15 on Friday. OneConnect Financial Technology Co., Ltd. has a 12 month low of $9.02 and a 12 month high of $28.80. The business has a fifty day moving average price of $20.87 and a 200 day moving average price of $20.09.
OneConnect Financial Technology (NASDAQ:OCFT) last released its earnings results on Sunday, November 8th. The company reported ($0.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.55). The company had revenue of $127.39 million during the quarter, compared to analysts’ expectations of $132.19 million.
About OneConnect Financial Technology
OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People’s Republic of China. It offers digital retail banking, small and medium enterprises (SME) financing and services, retail and 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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