Qifu Technology, Inc. (NASDAQ:QFIN) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 10,812.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,042,306 shares of the company's stock after buying an additional 2,023,590 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 1.30% of Qifu Technology worth $91,720,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Alliancebernstein L.P. acquired a new stake in shares of Qifu Technology during the fourth quarter worth approximately $92,150,000. Norges Bank bought a new stake in Qifu Technology in the fourth quarter valued at about $46,579,000. Candriam S.C.A. acquired a new stake in Qifu Technology during the fourth quarter valued at approximately $27,185,000. Aspex Management HK Ltd lifted its holdings in Qifu Technology by 11.3% during the 4th quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company's stock worth $244,550,000 after buying an additional 648,088 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Qifu Technology by 67.5% during the 4th quarter. Marshall Wace LLP now owns 1,351,277 shares of the company's stock worth $51,862,000 after buying an additional 544,666 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Qifu Technology Stock Performance

Shares of NASDAQ:QFIN traded down $0.41 during trading on Tuesday, hitting $42.96. 645,764 shares of the company traded hands, compared to its average volume of 1,572,174. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.21. The business's fifty day moving average is $42.63 and its 200-day moving average is $41.12. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 0.55 and a beta of 0.49. Qifu Technology, Inc. has a one year low of $18.13 and a one year high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its earnings results 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. The company had revenue of $646.19 million for the quarter, compared to analysts' expectations of $4.61 billion. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. As a group, equities analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal 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.