Baillie Gifford & Co. Sells 464,449 Shares of Lufax Holding Ltd. Sponsored ADR $LU

Baillie Gifford & Co. lessened its stake in Lufax Holding Ltd. Sponsored ADR (NYSE:LU) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,942,847 shares of the company’s stock after selling 464,449 shares during the period. Baillie Gifford & Co. owned approximately 0.92% of Lufax worth $20,334,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LU. Amundi grew its position in Lufax by 76.8% in the 1st quarter. Amundi now owns 97,223 shares of the company’s stock worth $282,000 after purchasing an additional 42,236 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Lufax by 32.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 604,823 shares of the company’s stock worth $1,796,000 after purchasing an additional 148,724 shares during the period. Goldman Sachs Group Inc. grew its position in Lufax by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,343,505 shares of the company’s stock worth $3,990,000 after purchasing an additional 8,236 shares during the period. Geode Capital Management LLC grew its position in Lufax by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 143,238 shares of the company’s stock worth $400,000 after purchasing an additional 5,417 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Lufax by 74.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 110,024 shares of the company’s stock worth $307,000 after purchasing an additional 47,001 shares during the period. Institutional investors own 69.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Lufax Price Performance

Shares of Lufax stock opened at $1.91 on Tuesday. The company’s fifty day simple moving average is $2.35 and its 200-day simple moving average is $2.71. The stock has a market capitalization of $1.65 billion, a PE ratio of -2.44 and a beta of 0.76. Lufax Holding Ltd. Sponsored ADR has a 1-year low of $1.73 and a 1-year high of $4.57.

Lufax (NYSE:LU) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($1.19) earnings per share for the quarter. The firm had revenue of $724.89 million for the quarter. As a group, research analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.41 EPS for the current year.

About Lufax

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.