15,144 Shares in Qifu Technology, Inc. (NASDAQ:QFIN) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 15,144 shares of the company's stock, valued at approximately $680,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GeoWealth Management LLC acquired a new position in Qifu Technology in the 4th quarter worth about $26,000. Virtus Investment Advisers Inc. acquired a new position in Qifu Technology in the 4th quarter worth about $61,000. State of Wyoming acquired a new position in Qifu Technology in the 4th quarter worth about $97,000. Burns Matteson Capital Management LLC acquired a new position in Qifu Technology in the 1st quarter worth about $201,000. Finally, Ballentine Partners LLC acquired a new position in Qifu Technology in the 1st quarter worth about $206,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on QFIN shares. JPMorgan Chase & Co. started coverage on Qifu Technology in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 target price for the company. Wall Street Zen cut Qifu Technology from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th.

Qifu Technology Trading Down 2.6%

Shares of QFIN stock opened at $35.17 on Friday. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.44 and a beta of 0.48. The stock has a 50-day moving average of $42.42 and a 200-day moving average of $41.59. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.21. Qifu Technology, Inc. has a 1-year low of $18.13 and a 1-year high of $48.94.

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

Qifu Technology Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.