Yunqi Capital Ltd Lowers Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Yunqi Capital Ltd trimmed its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 17.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 724,630 shares of the company's stock after selling 155,000 shares during the quarter. 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. GeoWealth Management LLC bought a new stake in shares of Qifu Technology during the 4th quarter valued at about $26,000. Jones Financial Companies Lllp acquired a new stake in Qifu Technology in the fourth quarter worth approximately $29,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Qifu Technology in the fourth quarter valued at $61,000. iA Global Asset Management Inc. acquired a new stake in Qifu Technology in the 4th quarter valued at about $93,000. Finally, State of Wyoming acquired a new stake in Qifu Technology during the fourth quarter valued at approximately $97,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Stock Performance

Shares of Qifu Technology stock traded up $0.26 during trading on Friday, reaching $43.09. The company's stock had a trading volume of 802,515 shares, compared to its average volume of 1,573,086. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. The business's fifty day moving average price is $43.14 and its 200-day moving average price is $41.39. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 6.61, a price-to-earnings-growth ratio of 0.53 and a beta of 0.48. Qifu Technology, Inc. has a one year low of $18.13 and a one year high of $48.94.

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

Analyst Upgrades and Downgrades

QFIN has been the subject of several recent analyst reports. Bank of America raised their target price 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. started coverage on Qifu Technology in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price target for the company. Finally, Wall Street Zen raised shares of Qifu Technology from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st.

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.