Bank of New York Mellon Corp Has $5.66 Million Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Bank of New York Mellon Corp boosted its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,955 shares of the company's stock after purchasing an additional 7,197 shares during the period. Bank of New York Mellon Corp owned approximately 0.08% of Qifu Technology worth $5,657,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. GeoWealth Management LLC bought a new position in Qifu Technology during the 4th quarter valued at $26,000. Virtus Investment Advisers Inc. bought a new position in Qifu Technology during the 4th quarter valued at $61,000. State of Wyoming bought a new position in Qifu Technology during the 4th quarter valued at $97,000. Oppenheimer & Co. Inc. bought a new position in Qifu Technology during the 1st quarter valued at $208,000. Finally, Yousif Capital Management LLC bought a new position in Qifu Technology during the 1st quarter valued at $209,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Qifu Technology Stock Performance

Shares of Qifu Technology stock traded down $0.13 during trading hours on Monday, reaching $35.04. The company's stock had a trading volume of 2,396,189 shares, compared to its average volume of 1,825,864. The company's 50 day simple moving average is $42.25 and its 200 day simple moving average is $41.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. Qifu Technology, Inc. has a one year low of $18.13 and a one year high of $48.94. The stock has a market cap of $5.52 billion, a P/E ratio of 5.37, a price-to-earnings-growth ratio of 0.44 and a beta of 0.48.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share (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 the consensus estimate of $4.61 billion. Qifu Technology had a net margin of 38.99% and a return on equity of 29.73%. As a group, analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal 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.