Yunqi Capital Ltd Trims Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Yunqi Capital Ltd trimmed its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 17.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 724,630 shares of the company's stock after selling 155,000 shares during the period. Qifu Technology makes up 32.0% of Yunqi Capital Ltd's portfolio, making the stock its 2nd biggest position. Yunqi Capital Ltd owned 0.46% of Qifu Technology worth $32,543,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. GeoWealth Management LLC acquired a new stake in Qifu Technology during the 4th quarter valued at $26,000. Jones Financial Companies Lllp acquired a new stake in Qifu Technology during the 4th quarter valued at $29,000. O Shaughnessy Asset Management LLC grew its holdings in Qifu Technology by 11.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,172 shares of the company's stock valued at $390,000 after purchasing an additional 1,018 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Qifu Technology by 0.5% during the 4th quarter. Nuveen Asset Management LLC now owns 242,000 shares of the company's stock valued at $9,288,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Qifu Technology by 8.5% during the 4th quarter. Quantinno Capital Management LP now owns 17,848 shares of the company's stock valued at $685,000 after purchasing an additional 1,392 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Qifu Technology Stock Up 2.1%

QFIN stock traded up $0.93 during mid-day trading on Tuesday, hitting $44.40. 1,527,295 shares of the company were exchanged, compared to its average volume of 1,577,728. The company has a market capitalization of $7.00 billion, a PE ratio of 6.81, a price-to-earnings-growth ratio of 0.54 and a beta of 0.48. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.21. Qifu Technology, Inc. has a twelve month low of $18.13 and a twelve month high of $48.94. The firm has a fifty day simple moving average of $42.96 and a 200 day simple moving average of $41.28.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $646.19 million for the quarter, compared to the consensus estimate of $4.61 billion. On average, research analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QFIN has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. initiated coverage on shares of Qifu Technology in a report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price objective for the company. Finally, Wall Street Zen raised 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.