Banque Cantonale Vaudoise Makes New Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Qifu Technology, Inc. by purchasing 103,000 shares valued at approximately $4.63 million, representing 0.07% ownership by the end of the latest reporting period.
• Qifu Technology's latest quarterly earnings report showed $1.74 earnings per share, exceeding the consensus estimate of $1.72, despite revenue being below expectations at $646.19 million.
• JPMorgan Chase & Co. has initiated coverage on Qifu Technology with an "overweight" rating and a price target of \strong>$65.00, while Wall Street Zen has revised its rating from "strong-buy" to "buy."

Banque Cantonale Vaudoise acquired a new stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 103,000 shares of the company's stock, valued at approximately $4,626,000. Banque Cantonale Vaudoise owned 0.07% of Qifu Technology as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of QFIN. HB Wealth Management LLC raised its stake in shares of Qifu Technology by 7.2% during the 1st quarter. HB Wealth Management LLC now owns 6,431 shares of the company's stock worth $289,000 after purchasing an additional 431 shares in the last quarter. GeoWealth Management LLC acquired a new stake in shares of Qifu Technology during the 4th quarter worth $26,000. O Shaughnessy Asset Management LLC boosted its stake in Qifu Technology by 11.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,172 shares of the company's stock valued at $390,000 after buying an additional 1,018 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Qifu Technology by 0.5% in the fourth quarter. Nuveen Asset Management LLC now owns 242,000 shares of the company's stock valued at $9,288,000 after buying an additional 1,100 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Qifu Technology by 8.5% in the fourth quarter. Quantinno Capital Management LP now owns 17,848 shares of the company's stock valued at $685,000 after buying an additional 1,392 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on QFIN. Wall Street Zen lowered Qifu Technology from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. initiated coverage on Qifu Technology in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price objective on the stock.

Qifu Technology Trading Down 2.0%

Shares of Qifu Technology stock traded down $0.68 during midday trading on Friday, reaching $33.65. The company had a trading volume of 2,498,974 shares, compared to its average volume of 1,696,140. The stock has a fifty day moving average price of $41.74 and a 200 day moving average price of $41.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.08 and a quick ratio of 3.08. The firm has a market cap of $5.30 billion, a PE ratio of 5.16, a P/E/G ratio of 0.42 and a beta of 0.48. Qifu Technology, Inc. has a fifty-two week low of $18.13 and a fifty-two week high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings data on Monday, May 19th. The company reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.02. The company had revenue of $646.19 million for the quarter, compared to analyst estimates of $4.61 billion. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. On average, equities analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.