Qifu Technology, Inc. (NASDAQ:QFIN) Shares Purchased by KBC Group NV

KBC Group NV grew its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 592.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,960 shares of the company's stock after purchasing an additional 209,579 shares during the period. KBC Group NV owned approximately 0.16% of Qifu Technology worth $11,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Qifu Technology by 0.6% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 277,542 shares of the company's stock worth $12,464,000 after purchasing an additional 1,750 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Qifu Technology by 10,812.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company's stock valued at $91,720,000 after purchasing an additional 2,023,590 shares in the last quarter. Artemis Investment Management LLP increased its stake in Qifu Technology by 83.9% during the 1st quarter. Artemis Investment Management LLP now owns 598,432 shares of the company's stock worth $26,876,000 after buying an additional 272,932 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Qifu Technology by 1.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 339,820 shares of the company's stock worth $15,261,000 after buying an additional 4,039 shares in the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new stake in Qifu Technology during the 1st quarter worth approximately $19,016,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QFIN has been the subject of several research reports. Wall Street Zen upgraded shares of Qifu Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Bank of America boosted their target price on Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. started coverage on Qifu Technology in a report on Wednesday. They set an "overweight" rating and a $65.00 price target on the stock.

Qifu Technology Stock Up 1.7%

NASDAQ QFIN traded up $0.71 on Thursday, hitting $43.45. 1,256,072 shares of the stock were exchanged, compared to its average volume of 1,577,441. Qifu Technology, Inc. has a fifty-two week low of $18.13 and a fifty-two week high of $48.94. The company has a 50-day moving average price of $42.85 and a 200-day moving average price of $41.18. 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 company has a market cap of $6.85 billion, a PE ratio of 6.66, a PEG ratio of 0.53 and a beta of 0.48.

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