Qifu Technology, Inc. (NASDAQ:QFIN) Shares Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP boosted its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 83.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 598,432 shares of the company's stock after acquiring an additional 272,932 shares during the period. Artemis Investment Management LLP owned 0.38% of Qifu Technology worth $26,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. GeoWealth Management LLC acquired a new position in shares of Qifu Technology in the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp purchased a new position in shares of Qifu Technology during the 4th quarter worth about $29,000. Global Retirement Partners LLC grew its holdings in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after purchasing an additional 518 shares during the period. Virtus Investment Advisers Inc. acquired a new position in Qifu Technology during the fourth quarter worth approximately $61,000. Finally, iA Global Asset Management Inc. purchased a new position in Qifu Technology during the fourth quarter worth approximately $93,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qifu Technology Trading Down 0.9%

QFIN opened at $44.79 on Friday. The firm has a market capitalization of $7.06 billion, a P/E ratio of 6.87, a P/E/G ratio of 0.56 and a beta of 0.49. The firm's 50 day moving average is $42.11 and its 200-day moving average is $40.96. Qifu Technology, Inc. has a 52-week low of $18.13 and a 52-week high of $48.94. 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 released its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.02. Qifu Technology had a net margin of 38.99% and a return on equity of 29.73%. The business had revenue of $646.19 million during the quarter, compared to analyst estimates of $4.61 billion. Analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on QFIN. Wall Street Zen raised shares of Qifu Technology from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Bank of America boosted their price objective on Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research note on Wednesday, March 26th.

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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