California State Teachers Retirement System Sells 62,756 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

California State Teachers Retirement System trimmed its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 85.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,810 shares of the company's stock after selling 62,756 shares during the quarter. California State Teachers Retirement System's holdings in Qifu Technology were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Alliancebernstein L.P. bought a new stake in Qifu Technology during the 4th quarter valued at $92,150,000. Norges Bank purchased a new stake in Qifu Technology during the 4th quarter worth about $46,579,000. Candriam S.C.A. purchased a new position in Qifu Technology during the 4th quarter valued at about $27,185,000. Aspex Management HK Ltd increased its position in shares of Qifu Technology by 11.3% during the fourth quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company's stock valued at $244,550,000 after buying an additional 648,088 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Qifu Technology by 67.5% in the fourth quarter. Marshall Wace LLP now owns 1,351,277 shares of the company's stock worth $51,862,000 after buying an additional 544,666 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Qifu Technology from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st. Bank of America lifted their price target on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a research report on Wednesday, March 26th.

Qifu Technology Price Performance

NASDAQ QFIN traded up $0.35 on Thursday, reaching $42.00. 1,297,778 shares of the company's stock traded hands, compared to its average volume of 1,580,838. The stock has a market cap of $6.62 billion, a PE ratio of 8.50, a P/E/G ratio of 0.32 and a beta of 0.49. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month high of $48.94. The stock has a 50-day simple moving average of $40.95 and a 200 day simple moving average of $40.55.

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, beating the consensus estimate of $1.72 by $0.02. The business had revenue of $646.19 million during the quarter, compared to analyst estimates of $4.61 billion. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. As a group, analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd were paid a $0.70 dividend. This represents a dividend yield of 2.5%. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date of this dividend was Wednesday, April 23rd. Qifu Technology's payout ratio is presently 21.17%.

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.