Natixis Advisors LLC Acquires 8,061 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Key Points

• Natixis Advisors LLC increased its stake in Qifu Technology by 34.1%, acquiring an additional 8,061 shares and totaling 31,682 shares valued at approximately $1,423,000.
• Institutional investors collectively own 74.81% of Qifu Technology's stock, with various funds like Baader Bank and Banque Cantonale Vaudoise purchasing significant positions in the first quarter.
• Qifu Technology reported earnings per share of $1.74, exceeding estimates, with expected earnings of $5.71 for the fiscal year.

Natixis Advisors LLC raised its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 34.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,682 shares of the company's stock after buying an additional 8,061 shares during the period. Natixis Advisors LLC's holdings in Qifu Technology were worth $1,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. HB Wealth Management LLC lifted its holdings in shares of Qifu Technology by 7.2% during the first quarter. HB Wealth Management LLC now owns 6,431 shares of the company's stock valued at $289,000 after acquiring an additional 431 shares during the period. GeoWealth Management LLC bought a new stake in Qifu Technology in the 4th quarter valued at approximately $26,000. O Shaughnessy Asset Management LLC lifted its stake in Qifu Technology by 11.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,172 shares of the company's stock valued at $390,000 after acquiring an additional 1,018 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Qifu Technology by 0.5% during the 4th quarter. Nuveen Asset Management LLC now owns 242,000 shares of the company's stock worth $9,288,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of Qifu Technology by 8.5% during the 4th quarter. Quantinno Capital Management LP now owns 17,848 shares of the company's stock worth $685,000 after purchasing an additional 1,392 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Qifu Technology Stock Performance

Shares of NASDAQ:QFIN traded up $0.79 during midday trading on Wednesday, reaching $34.90. 830,663 shares of the company traded hands, compared to its average volume of 1,699,282. 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 $22.08 and a 12 month high of $48.94. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 5.34, a price-to-earnings-growth ratio of 0.40 and a beta of 0.39. The firm's fifty day moving average price is $40.37 and its two-hundred day moving average price is $41.26.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Monday, May 19th. The company reported $1.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.02. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. The company had revenue of $646.19 million for the quarter, compared to analyst estimates of $4.61 billion. On average, equities analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

About Qifu Technology

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.