Asset Management One Co. Ltd. Boosts Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Asset Management One Co. Ltd. raised its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 36.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,755 shares of the company's stock after purchasing an additional 11,882 shares during the period. Asset Management One Co. Ltd.'s holdings in Qifu Technology were worth $2,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QFIN. GeoWealth Management LLC acquired a new stake in Qifu Technology during the 4th quarter worth about $26,000. Jones Financial Companies Lllp bought a new stake in shares of Qifu Technology during the 4th quarter valued at about $29,000. Global Retirement Partners LLC grew its stake 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 period. Virtus Investment Advisers Inc. bought a new stake in Qifu Technology in the fourth quarter worth approximately $61,000. Finally, iA Global Asset Management Inc. acquired a new position in Qifu Technology in the fourth quarter valued at approximately $93,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on QFIN. JPMorgan Chase & Co. assumed coverage on shares of Qifu Technology in a research report on Wednesday. They set an "overweight" rating and a $65.00 price objective on the stock. Bank of America upped their price target on Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Finally, Wall Street Zen raised Qifu Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st.

Qifu Technology Stock Down 0.4%

Shares of NASDAQ QFIN traded down $0.18 during mid-day trading on Wednesday, reaching $42.82. 615,532 shares of the company's stock traded hands, compared to its average volume of 1,569,565. 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 business has a 50-day simple moving average of $42.73 and a 200 day simple moving average of $41.13. The stock has a market cap of $6.75 billion, a P/E ratio of 6.57, a PEG ratio of 0.54 and a beta of 0.49. 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 announced its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.02. The business had revenue of $646.19 million for the quarter, compared to analysts' expectations of $4.61 billion. Qifu Technology had a net margin of 38.99% and a return on equity of 29.73%. On average, analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

About Qifu Technology

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.