Point72 Hong Kong Ltd Purchases 436,882 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Point72 Hong Kong Ltd boosted its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 443.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 535,498 shares of the company's stock after purchasing an additional 436,882 shares during the period. Qifu Technology comprises 1.1% of Point72 Hong Kong Ltd's holdings, making the stock its 25th largest position. Point72 Hong Kong Ltd owned approximately 0.33% of Qifu Technology worth $15,963,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of QFIN. Ashton Thomas Private Wealth LLC bought a new position in shares of Qifu Technology during the 2nd quarter worth $31,000. Blue Trust Inc. boosted its position in shares of Qifu Technology by 598.4% in the second quarter. Blue Trust Inc. now owns 1,732 shares of the company's stock valued at $32,000 after acquiring an additional 1,484 shares during the period. USA Financial Formulas purchased a new position in Qifu Technology during the third quarter valued at approximately $41,000. Venturi Wealth Management LLC bought a new stake in Qifu Technology during the 3rd quarter worth approximately $54,000. Finally, Signaturefd LLC lifted its stake in Qifu Technology by 67.3% in the 2nd quarter. Signaturefd LLC now owns 7,283 shares of the company's stock worth $144,000 after purchasing an additional 2,931 shares in the last quarter. Institutional investors own 74.81% of the company's stock.

Qifu Technology Stock Performance

NASDAQ:QFIN traded up $0.23 during trading hours on Friday, reaching $38.11. The company's stock had a trading volume of 989,551 shares, compared to its average volume of 1,314,369. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.32 and a beta of 0.61. The firm has a 50-day simple moving average of $32.56 and a 200-day simple moving average of $25.35. Qifu Technology, Inc. has a 1 year low of $13.71 and a 1 year high of $38.69.

Analysts Set New Price Targets

Separately, Citigroup lifted their price target on Qifu Technology from $31.44 to $37.50 and gave the company a "buy" rating in a research report 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.