SkyOak Wealth LLC Invests $310,000 in Qifu Technology, Inc. (NASDAQ:QFIN)

SkyOak Wealth LLC bought a new position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 6,899 shares of the company's stock, valued at approximately $310,000.

Several other large investors have also added to or reduced their stakes in QFIN. Bank of New York Mellon Corp boosted its stake in 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 purchasing an additional 5,549 shares during the period. Jones Financial Companies Lllp bought a new stake in Qifu Technology in the 4th quarter worth approximately $29,000. Raymond James Financial Inc. bought a new stake in Qifu Technology in the 4th quarter worth approximately $298,000. HighTower Advisors LLC purchased a new position in Qifu Technology in the 4th quarter worth approximately $563,000. Finally, EverSource Wealth Advisors LLC increased its stake in Qifu Technology by 4,272.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,302 shares of the company's stock worth $280,000 after purchasing an additional 7,135 shares during the period. Institutional investors own 74.81% of the company's stock.

Qifu Technology Stock Performance

Shares of NASDAQ:QFIN traded down $0.07 during midday trading on Tuesday, reaching $42.43. 1,744,251 shares of the company's stock traded hands, compared to its average volume of 1,573,168. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 6.51, a P/E/G ratio of 0.53 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 one year low of $18.13 and a one year high of $48.94. The stock has a 50 day moving average of $43.14 and a 200 day moving average of $41.44.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its earnings results on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.02. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. The company had revenue of $646.19 million for the quarter, compared to the consensus estimate of $4.61 billion. As a group, equities research analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Analyst Ratings Changes

QFIN has been the topic of a number of analyst reports. JPMorgan Chase & Co. began coverage on 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 research note on Saturday, June 21st. Finally, Bank of America increased 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.

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.