Dorsey Wright & Associates Has $4.09 Million Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Dorsey Wright & Associates lessened its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 11.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 91,135 shares of the company's stock after selling 11,771 shares during the period. Dorsey Wright & Associates owned 0.06% of Qifu Technology worth $4,093,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Qifu Technology by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 125,955 shares of the company's stock valued at $5,657,000 after buying an additional 7,197 shares during the last quarter. Yousif Capital Management LLC bought a new stake in shares of Qifu Technology during the first quarter valued at approximately $209,000. Oppenheimer & Co. Inc. acquired a new position in shares of Qifu Technology during the first quarter worth approximately $208,000. Krane Funds Advisors LLC grew its holdings in Qifu Technology by 24.4% in the 1st quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock worth $315,849,000 after buying an additional 1,381,624 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Qifu Technology by 583.8% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 484,322 shares of the company's stock worth $21,751,000 after buying an additional 413,493 shares in the last quarter. Institutional investors own 74.81% of the company's stock.

Qifu Technology Price Performance

NASDAQ:QFIN traded down $0.94 during trading hours on Friday, reaching $35.17. 2,736,622 shares of the company's stock were exchanged, compared to its average volume of 1,719,126. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $5.54 billion, a P/E ratio of 5.39, a price-to-earnings-growth ratio of 0.45 and a beta of 0.48. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month high of $48.94. The business's 50-day simple moving average is $42.42 and its two-hundred day simple moving average is $41.56.

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

Analyst Ratings Changes

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

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.