Qifu Technology, Inc. (NASDAQ:QFIN) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC decreased its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,651,303 shares of the company's stock after selling 246,098 shares during the quarter. Qifu Technology comprises about 8.9% of Krane Funds Advisors LLC's portfolio, making the stock its 7th largest holding. Krane Funds Advisors LLC owned approximately 3.59% of Qifu Technology worth $216,897,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Alliancebernstein L.P. purchased a new position in Qifu Technology during the 4th quarter valued at $92,150,000. State Street Corp boosted its stake in shares of Qifu Technology by 5.8% during the third quarter. State Street Corp now owns 2,324,831 shares of the company's stock valued at $70,637,000 after purchasing an additional 128,381 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Qifu Technology by 10.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company's stock worth $56,738,000 after purchasing an additional 134,326 shares during the last quarter. Geode Capital Management LLC increased its stake in Qifu Technology by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock worth $38,866,000 after buying an additional 41,139 shares during the period. Finally, Norges Bank bought a new stake in Qifu Technology during the 4th quarter valued at about $46,579,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Bank of America upped their target price on shares of 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 Price Performance

NASDAQ QFIN traded down $0.36 during trading on Friday, reaching $36.37. 3,872,213 shares of the company's stock traded hands, compared to its average volume of 1,502,127. Qifu Technology, Inc. has a 12-month low of $17.76 and a 12-month high of $48.94. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The company's 50 day simple moving average is $42.05 and its two-hundred day simple moving average is $37.83.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.14. The company had revenue of $613.89 million for the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. Research analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be paid a dividend of $0.70 per share. This is a boost from Qifu Technology's previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. Qifu Technology's dividend payout ratio is 23.79%.

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.