Qfin Holdings Inc. - Sponsored ADR $QFIN Shares Sold by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC cut its Qfin stake by 32.2% in the fourth quarter, selling 162,174 shares and ending with 341,751 shares valued at about $6.59 million.
• Institutional ownership remains heavy, with 74.81% of Qfin shares held by institutions and hedge funds. Several big investors added positions, including Triata Capital, Goldman Sachs, and Norges Bank.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $19.91, while Qfin recently traded around $14.75 after reporting quarterly EPS of $1.12.

Hsbc Holdings PLC reduced its holdings in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 32.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,751 shares of the company's stock after selling 162,174 shares during the quarter. Hsbc Holdings PLC owned 0.24% of Qfin worth $6,588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Triata Capital Ltd grew its position in Qfin by 188.3% in the fourth quarter. Triata Capital Ltd now owns 3,125,331 shares of the company's stock worth $60,225,000 after buying an additional 2,041,351 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Qfin by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,988,999 shares of the company's stock valued at $38,350,000 after acquiring an additional 176,754 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Qfin by 198.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company's stock worth $35,501,000 after acquiring an additional 1,224,164 shares in the last quarter. Norges Bank bought a new stake in shares of Qfin during the 4th quarter worth $30,436,000. Finally, Geode Capital Management LLC boosted its stake in shares of Qfin by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 1,260,258 shares of the company's stock worth $24,172,000 after acquiring an additional 62,640 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QFIN has been the topic of a number of recent analyst reports. Bank of America reaffirmed a "neutral" rating and set a $15.33 target price on shares of Qfin in a research report on Wednesday, May 27th. Weiss Ratings upgraded Qfin from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group dropped their price target on Qfin from $30.30 to $23.40 and set a "buy" rating on the stock in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $19.91.

Insider Transactions at Qfin

In other Qfin news, Director Xiaohuan Chen acquired 4,000 shares of Qfin stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $14.41 per share, with a total value of $57,640.00. Following the purchase, the director owned 19,000 shares in the company, valued at approximately $273,790. The trade was a 26.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 17.10% of the company's stock.

Qfin Trading Up 1.7%

Qfin stock opened at $14.75 on Thursday. Qfin Holdings Inc. - Sponsored ADR has a 52 week low of $11.31 and a 52 week high of $44.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 2.70 and a beta of 0.57. The company has a 50 day moving average price of $14.39 and a 200 day moving average price of $15.08.

Qfin (NASDAQ:QFIN - Get Free Report) last released its earnings results on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. The company had revenue of $567.01 million during the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%. Research analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 3.79 EPS for the current year.

Qfin Profile

360 DigiTech, Inc NASDAQ: QFIN is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company's flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.

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