JPMorgan Chase & Co. Has $25.83 Million Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

JPMorgan Chase & Co. decreased its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 27.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 866,631 shares of the company's stock after selling 325,267 shares during the period. JPMorgan Chase & Co. owned 0.54% of Qifu Technology worth $25,834,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Qifu Technology in the 3rd quarter valued at approximately $30,000. Ashton Thomas Private Wealth LLC bought a new position in Qifu Technology in the 2nd quarter worth approximately $31,000. USA Financial Formulas acquired a new position in shares of Qifu Technology during the third quarter valued at $41,000. Point72 DIFC Ltd bought a new position in shares of Qifu Technology in the third quarter valued at approximately $43,000. Finally, Venturi Wealth Management LLC bought a new position in Qifu Technology during the 3rd quarter valued at $54,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Qifu Technology Stock Up 1.8 %

NASDAQ:QFIN traded up $0.68 during trading hours on Wednesday, hitting $37.51. 791,657 shares of the stock were exchanged, compared to its average volume of 815,211. The company's 50 day moving average is $35.80 and its two-hundred day moving average is $28.76. The company has a market capitalization of $6.05 billion, a P/E ratio of 7.59, a price-to-earnings-growth ratio of 0.33 and a beta of 0.64. Qifu Technology, Inc. has a twelve month low of $13.71 and a twelve month high of $40.31.

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.