abrdn plc Increases Position in Qifu Technology, Inc. (NASDAQ:QFIN)

abrdn plc increased its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 167,937 shares of the company's stock after purchasing an additional 21,521 shares during the quarter. abrdn plc owned approximately 0.11% of Qifu Technology worth $6,476,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of QFIN. Robeco Institutional Asset Management B.V. raised its holdings in shares of Qifu Technology by 66.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,369,278 shares of the company's stock worth $40,818,000 after purchasing an additional 548,678 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Qifu Technology by 148.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,343 shares of the company's stock worth $24,454,000 after purchasing an additional 489,865 shares during the period. Swedbank AB raised its holdings in shares of Qifu Technology by 156.0% in the 3rd quarter. Swedbank AB now owns 754,300 shares of the company's stock worth $22,486,000 after purchasing an additional 459,700 shares during the period. Point72 Hong Kong Ltd raised its holdings in shares of Qifu Technology by 443.0% in the 3rd quarter. Point72 Hong Kong Ltd now owns 535,498 shares of the company's stock worth $15,963,000 after purchasing an additional 436,882 shares during the period. Finally, Artemis Investment Management LLP bought a new stake in shares of Qifu Technology in the 4th quarter worth approximately $12,493,000. Institutional investors own 74.81% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Citigroup lifted their price target on shares of Qifu Technology from $31.44 to $37.50 and gave the stock a "buy" rating in a report on Thursday, November 21st.

Qifu Technology Stock Performance

QFIN stock traded up $1.83 during midday trading on Wednesday, reaching $43.00. 1,281,481 shares of the company's stock traded hands, compared to its average volume of 1,068,863. The company has a 50-day moving average price of $38.72 and a two-hundred day moving average price of $32.24. Qifu Technology, Inc. has a 52 week low of $14.72 and a 52 week high of $44.00. The firm has a market capitalization of $6.78 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 0.32 and a beta of 0.63.

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.