Connor Clark & Lunn Investment Management Ltd. Raises Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 919,967 shares of the company's stock after acquiring an additional 99,624 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.58% of Qifu Technology worth $35,308,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of QFIN. Candriam S.C.A. acquired a new stake in Qifu Technology during the fourth quarter worth about $27,185,000. Swedbank AB lifted its holdings in shares of Qifu Technology by 156.0% during the 3rd quarter. Swedbank AB now owns 754,300 shares of the company's stock worth $22,486,000 after acquiring an additional 459,700 shares during the period. NS Partners Ltd acquired a new position in Qifu Technology during the fourth quarter valued at approximately $17,177,000. Point72 Hong Kong Ltd lifted its stake in Qifu Technology by 443.0% during the third 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 last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of Qifu Technology in the 4th quarter valued at $12,493,000. 74.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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Qifu Technology Stock Performance

Shares of NASDAQ:QFIN traded up $3.22 during midday trading on Friday, hitting $43.19. 1,781,865 shares of the stock were exchanged, compared to its average volume of 1,247,144. The business's 50-day moving average price is $40.41 and its 200 day moving average price is $35.33. Qifu Technology, Inc. has a 12 month low of $17.76 and a 12 month high of $46.25. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 0.32 and a beta of 0.59.

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.