Cerity Partners LLC Purchases Shares of 8,312 Qifu Technology, Inc. (NASDAQ:QFIN)

Key Points

• Cerity Partners LLC acquired 8,312 shares of Qifu Technology, Inc. for approximately $373,000, reflecting increasing interest from institutional investors in the tech firm.
• Qifu Technology's shares opened at $35.17 and have shown significant movement over the past year, with a 12-month high of $48.94 and a low of $18.13.
• Analysts at JPMorgan Chase & Co. issued an "overweight" rating with a price target of $65.00, while Wall Street Zen lowered its rating from "strong-buy" to "buy."

Cerity Partners LLC acquired a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,312 shares of the company's stock, valued at approximately $373,000.

Other hedge funds also recently made changes to their positions in the company. GeoWealth Management LLC bought a new stake in shares of Qifu Technology during the 4th quarter worth $26,000. Virtus Investment Advisers Inc. acquired a new position in shares of Qifu Technology in the fourth quarter worth about $61,000. State of Wyoming purchased a new position in shares of Qifu Technology in the fourth quarter worth approximately $97,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Qifu Technology during the first quarter valued at approximately $208,000. Finally, Yousif Capital Management LLC purchased a new stake in shares of Qifu Technology in the 1st quarter valued at approximately $209,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Wall Street Analyst Weigh In

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

Qifu Technology Trading Down 2.6%

Shares of NASDAQ:QFIN opened at $35.17 on Friday. The firm has a fifty day moving average of $42.42 and a two-hundred day moving average of $41.59. 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 12-month low of $18.13 and a 12-month high of $48.94. The firm has a market capitalization of $5.54 billion, a P/E ratio of 5.39, a price-to-earnings-growth ratio of 0.44 and a beta of 0.48.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings data on Monday, May 19th. The company reported $1.74 earnings per share (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 analyst estimates of $4.61 billion. On average, equities 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.

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