Qifu Technology, Inc. (NASDAQ:QFIN) Stock Position Reduced by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. cut its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 787,146 shares of the company's stock after selling 86,662 shares during the quarter. Qifu Technology comprises 1.5% of E Fund Management Co. Ltd.'s portfolio, making the stock its 13th biggest position. E Fund Management Co. Ltd. owned about 0.50% of Qifu Technology worth $30,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QFIN. Jones Financial Companies Lllp purchased a new stake in shares of Qifu Technology in the fourth quarter worth about $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Qifu Technology in the third quarter worth about $30,000. Advisors Preferred LLC purchased a new stake in shares of Qifu Technology in the fourth quarter worth about $41,000. Global Retirement Partners LLC boosted its position in shares of Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after buying an additional 518 shares during the period. Finally, BOCHK Asset Management Ltd purchased a new stake in shares of Qifu Technology in the fourth quarter worth about $46,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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Qifu Technology Price Performance

QFIN traded down $0.85 on Friday, reaching $40.52. The company's stock had a trading volume of 1,290,051 shares, compared to its average volume of 1,224,113. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59. Qifu Technology, Inc. has a 1 year low of $15.16 and a 1 year high of $46.25. The business's 50 day moving average is $40.20 and its 200 day moving average is $34.87.

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.