Keystone Investors PTE Ltd. Takes Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Key Points

• Keystone Investors PTE Ltd. has acquired 1,175,990 shares of Qifu Technology, valued at approximately $52.8 million, making it the firm's 5th largest position in their investment portfolio.
• As of the latest reports, institutional investors own 74.81% of Qifu Technology's stock, indicating significant interest from hedge funds.
• Qifu Technology reported earnings per share of $1.74, surpassing analysts' expectations, while its revenue for the quarter stood at $646.19 million.

Keystone Investors PTE Ltd. bought a new position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,175,990 shares of the company's stock, valued at approximately $52,814,000. Qifu Technology makes up 7.4% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 5th biggest holding. Keystone Investors PTE Ltd. owned 0.75% of Qifu Technology as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. GeoWealth Management LLC acquired a new stake in shares of Qifu Technology in the 4th quarter valued at approximately $26,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Qifu Technology during the fourth quarter worth $61,000. State of Wyoming acquired a new position in Qifu Technology in the fourth quarter valued at about $97,000. Headlands Technologies LLC bought a new stake in Qifu Technology during the first quarter worth about $151,000. Finally, Burns Matteson Capital Management LLC bought a new stake in Qifu Technology during the first quarter worth about $201,000. 74.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

QFIN has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Qifu Technology in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price objective for the company. Wall Street Zen cut shares of Qifu Technology from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th.

Qifu Technology Price Performance

NASDAQ QFIN traded up $1.62 during trading on Tuesday, hitting $33.99. 1,430,357 shares of the company's stock were exchanged, compared to its average volume of 1,701,573. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.36 billion, a PE ratio of 5.21, a P/E/G ratio of 0.41 and a beta of 0.39. Qifu Technology, Inc. has a fifty-two week low of $20.66 and a fifty-two week high of $48.94. The stock's 50 day moving average price is $40.51 and its two-hundred day moving average price is $41.31.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its earnings results on Monday, May 19th. The company reported $1.74 EPS for the quarter, topping the consensus estimate 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%. Research analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current 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.