APEIRON CAPITAL Ltd Makes New Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

APEIRON CAPITAL Ltd purchased a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 423,425 shares of the company's stock, valued at approximately $19,016,000. Qifu Technology makes up 8.7% of APEIRON CAPITAL Ltd's investment portfolio, making the stock its 4th biggest position. APEIRON CAPITAL Ltd owned 0.27% of Qifu Technology as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. GeoWealth Management LLC bought a new position in Qifu Technology during the 4th quarter valued at $26,000. Jones Financial Companies Lllp bought a new position in shares of Qifu Technology during the fourth quarter valued at about $29,000. Global Retirement Partners LLC boosted its holdings in Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after purchasing an additional 518 shares during the last quarter. Virtus Investment Advisers Inc. bought a new stake in Qifu Technology in the 4th quarter worth about $61,000. Finally, iA Global Asset Management Inc. purchased a new stake in Qifu Technology in the 4th quarter valued at about $93,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Stock Performance

NASDAQ QFIN traded up $2.62 during trading hours on Tuesday, reaching $45.80. 1,963,887 shares of the company were exchanged, compared to its average volume of 1,578,927. The stock has a market capitalization of $7.22 billion, a P/E ratio of 7.02, a P/E/G ratio of 0.53 and a beta of 0.49. The company has a quick ratio of 3.08, a current 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. The business's 50 day simple moving average is $41.80 and its 200-day simple moving average is $40.89.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America lifted their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Wall Street Zen upgraded Qifu Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday.

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.