Qifu Technology, Inc. (NASDAQ:QFIN) Stock Holdings Lessened by Voloridge Investment Management LLC

Voloridge Investment Management LLC cut its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 81.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,311 shares of the company's stock after selling 379,303 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.06% of Qifu Technology worth $3,389,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vident Advisory LLC grew its holdings in shares of Qifu Technology by 9.2% during the fourth quarter. Vident Advisory LLC now owns 19,191 shares of the company's stock valued at $737,000 after purchasing an additional 1,621 shares during the last quarter. Virtus Investment Advisers Inc. bought a new position in shares of Qifu Technology during the fourth quarter valued at approximately $61,000. Two Sigma Advisers LP bought a new position in shares of Qifu Technology during the fourth quarter valued at approximately $384,000. Tidal Investments LLC grew its holdings in shares of Qifu Technology by 14.1% during the fourth quarter. Tidal Investments LLC now owns 23,450 shares of the company's stock valued at $900,000 after purchasing an additional 2,898 shares during the last quarter. Finally, Triata Capital Ltd bought a new position in shares of Qifu Technology during the fourth quarter valued at approximately $2,370,000. 74.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on QFIN shares. Bank of America upped their target price on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a report on Wednesday, March 26th. Wall Street Zen raised Qifu Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

Qifu Technology Price Performance

Shares of NASDAQ QFIN traded down $0.23 during midday trading on Thursday, hitting $42.44. 707,792 shares of the company's stock were exchanged, compared to its average volume of 1,576,303. The stock's 50 day moving average price is $41.33 and its 200-day moving average price is $39.90. The firm has a market cap of $6.69 billion, a P/E ratio of 8.59, a PEG ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a twelve month low of $18.13 and a twelve month high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued 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 the consensus estimate of $4.61 billion. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. On average, analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be given a $0.70 dividend. This represents a yield of 2.5%. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date is Wednesday, April 23rd. Qifu Technology's dividend payout ratio is 21.17%.

Qifu Technology 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.