E Fund Management Hong Kong Co. Ltd. bought a new stake in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 29,871 shares of the company’s stock, valued at approximately $359,000. Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE raised its holdings in shares of OneConnect Financial Technology by 56.2% in the first quarter. US Bancorp DE now owns 2,231 shares of the company’s stock valued at $33,000 after purchasing an additional 803 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of OneConnect Financial Technology by 29.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,107 shares of the company’s stock valued at $149,000 after purchasing an additional 2,311 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of OneConnect Financial Technology in the fourth quarter valued at about $154,000. Sei Investments Co. raised its holdings in shares of OneConnect Financial Technology by 50.7% in the first quarter. Sei Investments Co. now owns 15,148 shares of the company’s stock valued at $224,000 after purchasing an additional 5,098 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of OneConnect Financial Technology in the first quarter valued at about $271,000. Institutional investors own 16.15% of the company’s stock. NYSE:OCFT traded down $0.03 on Friday, reaching $4.78. 2,510,885 shares of the company’s stock were exchanged, compared to its average volume of 1,015,077. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -68.29 and a beta of 0.40. OneConnect Financial Technology Co., Ltd. has a 52 week low of $4.64 and a 52 week high of $24.95. The company has a fifty day moving average of $9.84. A number of analysts recently issued reports on the stock. Morgan Stanley downgraded shares of OneConnect Financial Technology from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $19.00 to $7.50 in a report on Wednesday, August 4th. Zacks Investment Research downgraded shares of OneConnect Financial Technology from a “hold” rating to a “sell” rating in a report on Saturday, August 7th. CLSA decreased their price objective on shares of OneConnect Financial Technology from $21.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 5th. Finally, KeyCorp decreased their price objective on shares of OneConnect Financial Technology from $24.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $19.07. 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. Featured Article: Management Fee Want to see what other hedge funds are holding OCFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OneConnect Financial Technology Co., Ltd. (NYSE:OCFT). Receive News & Ratings for OneConnect Financial Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OneConnect Financial Technology and related companies with [MarketBeat.com's FREE daily email newsletter](/daily-email-updates-basic/?symbol=NYSE:OCFT&c=OneConnect+Financial+Technology) .