Candriam S.C.A. Makes New Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

Candriam S.C.A. purchased a new position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 708,300 shares of the company's stock, valued at approximately $27,185,000. Candriam S.C.A. owned about 0.45% of Qifu Technology as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in QFIN. Geode Capital Management LLC raised its stake in shares of Qifu Technology by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock valued at $38,866,000 after acquiring an additional 41,139 shares during the last quarter. Natixis Advisors LLC purchased a new position in shares of Qifu Technology during the third quarter valued at about $654,000. Asset Management One Co. Ltd. increased its position in shares of Qifu Technology by 66.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company's stock valued at $1,255,000 after buying an additional 13,170 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Qifu Technology by 148.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,343 shares of the company's stock valued at $24,454,000 after buying an additional 489,865 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of Qifu Technology during the third quarter valued at about $1,061,000. 74.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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Qifu Technology Stock Performance

Shares of NASDAQ QFIN traded down $0.85 during midday trading on Friday, hitting $40.52. 1,290,051 shares of the company traded hands, compared to its average volume of 1,224,113. Qifu Technology, Inc. has a 12-month low of $15.16 and a 12-month high of $46.25. The stock has a 50-day moving average price of $40.20 and a 200 day moving average price of $34.87. The firm has a market cap of $6.39 billion, a P/E ratio of 8.20, a P/E/G ratio of 0.32 and a beta of 0.59.

About Qifu Technology

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.