OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Shares Sold by California Public Employees Retirement System

   2022-05-21 11:05


California Public Employees Retirement System reduced its stake in OneConnect Financial Technology Co., Ltd. (NYSE:OCFTGet Rating) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,822 shares of the company’s stock after selling 11,671 shares during the period. California Public Employees Retirement System owned 0.07% of OneConnect Financial Technology worth $629,000 as of its most recent SEC filing.



Other hedge funds also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in OneConnect Financial Technology in the third quarter valued at approximately $142,000. Daiwa Securities Group Inc. boosted its stake in OneConnect Financial Technology by 573.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 36,547 shares of the company’s stock valued at $90,000 after acquiring an additional 31,118 shares during the period. Two Sigma Advisers LP acquired a new position in OneConnect Financial Technology in the third quarter valued at approximately $233,000. Panagora Asset Management Inc. boosted its stake in OneConnect Financial Technology by 6,834.5% in the third quarter. Panagora Asset Management Inc. now owns 61,509 shares of the company’s stock valued at $252,000 after acquiring an additional 60,622 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in OneConnect Financial Technology by 51.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 71,531 shares of the company’s stock valued at $180,000 after acquiring an additional 24,299 shares during the period. Institutional investors own 14.91% of the company’s stock.


Several brokerages have recently issued reports on OCFT. JPMorgan Chase & Co. downgraded OneConnect Financial Technology from a “neutral” rating to an “underweight” rating in a research report on Monday, March 14th. Zacks Investment Research upgraded OneConnect Financial Technology from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. Finally, HSBC downgraded OneConnect Financial Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, OneConnect Financial Technology currently has an average rating of “Hold” and a consensus target price of $9.50.

Shares of NYSE:OCFT opened at $1.37 on Friday. OneConnect Financial Technology Co., Ltd. has a 12 month low of $0.99 and a 12 month high of $19.60. The stock has a market cap of $534.29 million, a price-to-earnings ratio of -2.58 and a beta of 0.40. The stock’s 50 day moving average price is $1.44 and its 200 day moving average price is $1.92.

OneConnect Financial Technology (NYSE:OCFTGet Rating) last announced its earnings results on Thursday, February 24th. The company reported ($0.15) EPS for the quarter. OneConnect Financial Technology had a negative return on equity of 29.06% and a negative net margin of 31.00%. The firm had revenue of $200.24 million for the quarter. On average, equities analysts predict that OneConnect Financial Technology Co., Ltd. will post -0.41 earnings per share for the current fiscal year.

About OneConnect Financial Technology (Get Rating)

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, digital commercial banking, digital auto insurance and life insurance, and artificial intelligence customer services, as well as sales management, risk management, and operation support services.

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



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