Federated Hermes Inc. raised its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 3.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 307,907 shares of the company's stock after purchasing an additional 8,852 shares during the period. Federated Hermes Inc. owned 0.20% of Qifu Technology worth $13,828,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC raised its holdings in shares of Qifu Technology by 24.4% during the 1st quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock worth $315,849,000 after acquiring an additional 1,381,624 shares during the period. Aspex Management HK Ltd raised its holdings in shares of Qifu Technology by 11.3% during the 4th quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company's stock worth $244,550,000 after acquiring an additional 648,088 shares during the period. AQR Capital Management LLC raised its holdings in shares of Qifu Technology by 11.9% during the 4th quarter. AQR Capital Management LLC now owns 2,432,131 shares of the company's stock worth $93,345,000 after acquiring an additional 258,586 shares during the period. Alliancebernstein L.P. purchased a new position in shares of Qifu Technology during the 4th quarter worth $92,150,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Qifu Technology by 10,812.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company's stock worth $91,720,000 after acquiring an additional 2,023,590 shares during the period. Hedge funds and other institutional investors own 74.81% of the company's stock.
Qifu Technology Trading Down 2.0%
Shares of NASDAQ:QFIN traded down $0.68 during midday trading on Friday, reaching $33.65. 2,621,865 shares of the company's stock were exchanged, compared to its average volume of 2,138,894. The firm's 50 day simple moving average is $41.56 and its two-hundred day simple moving average is $41.55. 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 stock has a market cap of $5.30 billion, a price-to-earnings ratio of 5.16, a P/E/G ratio of 0.42 and a beta of 0.39. Qifu Technology, Inc. has a fifty-two week low of $18.13 and a fifty-two week high of $48.94.
Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $646.19 million during the quarter, compared to the consensus estimate of $4.61 billion. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. As a group, sell-side analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Wall Street Zen lowered Qifu Technology from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. initiated coverage on Qifu Technology in a report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price target on the stock.
Read Our Latest Research Report on QFIN
Qifu Technology Company Profile
(
Free Report)
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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