GSA Capital Partners LLP Sells 21,957 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Key Points

• GSA Capital Partners LLP reduced its stake in Qifu Technology, Inc. by 49.7%, selling 21,957 shares and now holds 22,198 shares worth approximately $997,000.
• Multiple hedge funds have recently acquired new stakes in Qifu Technology, contributing to institutional investors owning 74.81% of the company's stock.
• Qifu Technology reported earnings of $1.74 per share, beating estimates, with a revenue of $646.19 million for the quarter, although below analysts' expectations.

GSA Capital Partners LLP lessened its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 49.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,198 shares of the company's stock after selling 21,957 shares during the period. GSA Capital Partners LLP's holdings in Qifu Technology were worth $997,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of QFIN. GeoWealth Management LLC acquired a new stake in shares of Qifu Technology during the fourth quarter worth about $26,000. Virtus Investment Advisers Inc. acquired a new stake in Qifu Technology in the 4th quarter valued at approximately $61,000. State of Wyoming acquired a new stake in Qifu Technology in the 4th quarter valued at approximately $97,000. Burns Matteson Capital Management LLC acquired a new stake in Qifu Technology in the 1st quarter valued at approximately $201,000. Finally, Ballentine Partners LLC acquired a new stake in Qifu Technology in the 1st quarter valued at approximately $206,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Stock Up 0.1%

NASDAQ:QFIN opened at $34.33 on Friday. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 5.27, a price-to-earnings-growth ratio of 0.42 and a beta of 0.48. Qifu Technology, Inc. has a twelve month low of $18.13 and a twelve month high of $48.94. The stock's 50 day moving average price is $41.74 and its two-hundred day moving average price is $41.50. 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 (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.02. The firm had revenue of $646.19 million for the quarter, compared to analyst estimates of $4.61 billion. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. Equities research analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Qifu Technology 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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