SG Americas Securities LLC Sells 35,292 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

SG Americas Securities LLC decreased its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 54.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,282 shares of the company's stock after selling 35,292 shares during the quarter. SG Americas Securities LLC's holdings in Qifu Technology were worth $1,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GeoWealth Management LLC purchased a new position in shares of Qifu Technology during the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp purchased a new stake in Qifu Technology during the 4th quarter valued at $29,000. Global Retirement Partners LLC lifted its holdings in shares of Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after buying an additional 518 shares during the period. Virtus Investment Advisers Inc. purchased a new position in shares of Qifu Technology in the 4th quarter worth $61,000. Finally, iA Global Asset Management Inc. bought a new stake in shares of Qifu Technology in the fourth quarter worth $93,000. Institutional investors own 74.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Qifu Technology from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st. Bank of America upped their price target on shares of Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a research report on Wednesday, March 26th.

Qifu Technology Stock Performance

Shares of QFIN stock traded down $0.22 during mid-day trading on Friday, reaching $42.84. 485,387 shares of the company's stock traded hands, compared to its average volume of 1,666,136. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. The firm has a market capitalization of $6.75 billion, a PE ratio of 6.56, a price-to-earnings-growth ratio of 0.53 and a beta of 0.49. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month high of $48.94. The firm has a 50 day moving average price of $41.58 and a two-hundred day moving average price of $40.74.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.02. The business had revenue of $646.19 million during 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%. On average, research analysts forecast that Qifu Technology, Inc. will post 5.71 EPS 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.