ABN Amro Investment Solutions Acquires Shares of 195,935 OneConnect Financial Technology Co., Ltd. Sponsored ADR $OCFT

ABN Amro Investment Solutions bought a new position in shares of OneConnect Financial Technology Co., Ltd. Sponsored ADR (NYSE:OCFT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 195,935 shares of the company’s stock, valued at approximately $1,411,000.

Several other large investors also recently modified their holdings of the business. OLD Mission Capital LLC bought a new position in OneConnect Financial Technology during the 1st quarter valued at approximately $376,000. E Fund Management Co. Ltd. purchased a new position in shares of OneConnect Financial Technology during the first quarter valued at approximately $179,000. Finally, M&G PLC increased its stake in shares of OneConnect Financial Technology by 0.8% during the second quarter. M&G PLC now owns 773,100 shares of the company’s stock valued at $5,412,000 after buying an additional 6,506 shares during the period. 4.05% of the stock is owned by institutional investors.

OneConnect Financial Technology Stock Performance

Shares of OneConnect Financial Technology stock opened at $7.89 on Friday. OneConnect Financial Technology Co., Ltd. Sponsored ADR has a 1 year low of $2.08 and a 1 year high of $7.92. The company has a 50-day moving average of $7.57 and a 200 day moving average of $7.29.

OneConnect Financial Technology (NYSE:OCFT) last posted its quarterly earnings data on Thursday, August 21st. The company reported ($0.15) EPS for the quarter. OneConnect Financial Technology had a negative return on equity of 8.58% and a negative net margin of 41.54%.The business had revenue of $59.92 million for the quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OCFT. Citigroup lowered OneConnect Financial Technology from a “buy” rating to a “neutral” rating and raised their price target for the stock from $3.03 to $7.98 in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of OneConnect Financial Technology in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $7.98.

OneConnect Financial Technology Company 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 operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business.