Qifu Technology, Inc. (NASDAQ:QFIN) Shares Sold by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. trimmed its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 37.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,422 shares of the company's stock after selling 84,192 shares during the quarter. GF Fund Management CO. LTD. owned 0.09% of Qifu Technology worth $6,441,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers grew its stake in shares of Qifu Technology by 36.8% in the fourth quarter. Rhumbline Advisers now owns 24,988 shares of the company's stock worth $959,000 after acquiring an additional 6,721 shares in the last quarter. Truist Financial Corp purchased a new position in Qifu Technology in the fourth quarter valued at $231,000. Bank of New York Mellon Corp grew its stake in Qifu Technology by 4.9% during the 4th quarter. Bank of New York Mellon Corp now owns 118,758 shares of the company's stock worth $4,558,000 after purchasing an additional 5,549 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Qifu Technology during the 4th quarter worth $29,000. Finally, Aigen Investment Management LP purchased a new stake in Qifu Technology during the 4th quarter worth about $216,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Qifu Technology Trading Up 1.7%

Shares of Qifu Technology stock opened at $43.45 on Friday. 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 has a fifty day simple moving average of $42.90 and a 200-day simple moving average of $41.20. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 6.66, a PEG ratio of 0.54 and a beta of 0.48. Qifu Technology, Inc. has a 12-month low of $18.13 and a 12-month 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 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.02. The business 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%. On average, equities analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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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