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

GF Fund Management CO. LTD. lessened its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 37.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 143,422 shares of the company's stock after selling 84,192 shares during the quarter. GF Fund Management CO. LTD. owned approximately 0.09% of Qifu Technology worth $6,441,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Yousif Capital Management LLC acquired a new stake in Qifu Technology during the first quarter worth about $209,000. Oppenheimer & Co. Inc. acquired a new stake in Qifu Technology during the first quarter worth about $208,000. Krane Funds Advisors LLC raised its stake in Qifu Technology by 24.4% during the first quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock worth $315,849,000 after acquiring an additional 1,381,624 shares during the period. Asset Management One Co. Ltd. raised its stake in Qifu Technology by 36.1% during the first quarter. Asset Management One Co. Ltd. now owns 44,755 shares of the company's stock worth $2,010,000 after acquiring an additional 11,882 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Qifu Technology during the fourth quarter worth about $298,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Stock Performance

Shares of QFIN traded up $0.93 during mid-day trading on Tuesday, reaching $44.40. 1,527,295 shares of the company's stock traded hands, compared to its average volume of 1,576,939. The business's 50-day moving average price is $43.04 and its 200-day moving average price is $41.31. The stock has a market capitalization of $7.00 billion, a P/E ratio of 6.81, a price-to-earnings-growth ratio of 0.54 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. 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 quarterly earnings data on Monday, May 19th. The company reported $1.74 EPS 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 for the quarter, compared to analyst estimates of $4.61 billion. Equities analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on QFIN. JPMorgan Chase & Co. initiated coverage on shares of Qifu Technology in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price target on the stock. Wall Street Zen raised Qifu Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Finally, Bank of America lifted their price target on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a report on Wednesday, March 26th.

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.