Greenwoods Asset Management Hong Kong Ltd. Decreases Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Greenwoods Asset Management Hong Kong Ltd. lowered its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 21.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,688,992 shares of the company's stock after selling 728,130 shares during the quarter. Qifu Technology accounts for about 3.3% of Greenwoods Asset Management Hong Kong Ltd.'s holdings, making the stock its 9th largest position. Greenwoods Asset Management Hong Kong Ltd. owned 1.71% of Qifu Technology worth $103,204,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in Qifu Technology by 5.8% in the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company's stock valued at $70,637,000 after buying an additional 128,381 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Qifu Technology by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock worth $38,866,000 after purchasing an additional 41,139 shares in the last quarter. Swedbank AB lifted its holdings in Qifu Technology by 18.7% during the 4th quarter. Swedbank AB now owns 895,300 shares of the company's stock valued at $34,362,000 after purchasing an additional 141,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Qifu Technology by 148.2% in 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 in the last quarter. Finally, Candriam S.C.A. bought a new stake in Qifu Technology during the fourth quarter worth about $27,185,000. Institutional investors and hedge funds own 74.81% of the company's stock.

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Qifu Technology Stock Performance

Qifu Technology stock traded up $2.33 on Tuesday, reaching $40.75. The company's stock had a trading volume of 1,228,130 shares, compared to its average volume of 1,235,487. Qifu Technology, Inc. has a twelve month low of $15.50 and a twelve month high of $46.25. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 0.32 and a beta of 0.59. The business's fifty day moving average price is $40.21 and its 200 day moving average price is $34.96.

Wall Street Analyst Weigh In

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

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.