Charles Schwab Investment Management Inc. Increases Holdings in OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT)

ABMN Staff 2021-01-02 08:01

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Charles Schwab Investment Management Inc. lifted its position in OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT) by 82.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,384 shares of the company’s stock after purchasing an additional 29,040 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in OneConnect Financial Technology were worth $1,372,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in OCFT. TFC Financial Management purchased a new position in shares of OneConnect Financial Technology in the third quarter worth about $29,000. US Bancorp DE purchased a new position in shares of OneConnect Financial Technology in the third quarter worth about $30,000. Advisor Group Holdings Inc. raised its stake in shares of OneConnect Financial Technology by 932.9% in the second quarter. Advisor Group Holdings Inc. now owns 15,493 shares of the company’s stock worth $283,000 after purchasing an additional 13,993 shares during the last quarter. Jane Street Group LLC purchased a new position in OneConnect Financial Technology during the second quarter valued at approximately $406,000. Finally, Quadrature Capital Ltd purchased a new position in OneConnect Financial Technology during the second quarter valued at approximately $605,000.

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Several research analysts recently weighed in on OCFT shares. Zacks Investment Research cut OneConnect Financial Technology from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. BidaskClub cut OneConnect Financial Technology from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on OneConnect Financial Technology in a research report on Thursday, November 5th. They set a “buy” rating and a $28.00 price target for the company. Finally, Smith Barney Citigroup started coverage on OneConnect Financial Technology in a research report on Thursday, November 5th. They set a “buy” rating and a $28.00 price target for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.29.

OneConnect Financial Technology stock opened at $19.71 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 50 day simple moving average of $20.89 and a 200-day simple moving average of $21.06.

OneConnect Financial Technology (NASDAQ:OCFT) last posted its quarterly earnings data on Sunday, November 8th. The company reported ($0.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.55). The firm had revenue of $127.39 million during the quarter, compared to analyst estimates of $132.19 million.

OneConnect Financial Technology Profile

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.