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

Mirae Asset Global Investments Co. Ltd. increased its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 10,812.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,042,306 shares of the company's stock after acquiring 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 reporting period.

A number of other large investors have also modified their holdings of QFIN. Rhumbline Advisers increased its holdings in shares of Qifu Technology by 36.8% in the 4th quarter. Rhumbline Advisers now owns 24,988 shares of the company's stock worth $959,000 after acquiring an additional 6,721 shares during the period. Truist Financial Corp acquired a new stake in shares of Qifu Technology in the 4th quarter worth about $231,000. Global Retirement Partners LLC increased its holdings in shares of Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after acquiring an additional 518 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Qifu Technology by 4.9% in the 4th quarter. Bank of New York Mellon Corp now owns 118,758 shares of the company's stock worth $4,558,000 after acquiring an additional 5,549 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in shares of Qifu Technology by 13.9% in the 4th quarter. QRG Capital Management Inc. now owns 12,959 shares of the company's stock worth $497,000 after acquiring an additional 1,584 shares during the period. Institutional investors and hedge funds own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

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

Qifu Technology Stock Down 0.6%

Qifu Technology stock opened at $44.53 on Friday. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 0.56 and a beta of 0.49. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.21. The company's 50-day moving average price is $42.29 and its two-hundred day moving average price is $41.00. Qifu Technology, Inc. has a 52 week low of $18.13 and a 52 week high of $48.94.

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

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