Swedbank AB Acquires 459,700 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Swedbank AB raised its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 156.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 754,300 shares of the company's stock after purchasing an additional 459,700 shares during the period. Swedbank AB owned approximately 0.47% of Qifu Technology worth $22,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in shares of Qifu Technology in the 3rd quarter valued at about $41,000. Ashton Thomas Private Wealth LLC bought a new position in Qifu Technology during the 2nd quarter valued at $31,000. Blue Trust Inc. boosted its holdings in Qifu Technology by 598.4% during the second quarter. Blue Trust Inc. now owns 1,732 shares of the company's stock worth $32,000 after purchasing an additional 1,484 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Qifu Technology in the third quarter valued at approximately $54,000. Finally, US Bancorp DE increased its position in shares of Qifu Technology by 16.5% during the 3rd quarter. US Bancorp DE now owns 5,410 shares of the company's stock valued at $161,000 after purchasing an additional 765 shares during the last quarter. Institutional investors own 74.81% of the company's stock.

Qifu Technology Price Performance

Shares of Qifu Technology stock traded up $1.83 during trading on Tuesday, hitting $35.68. 1,952,578 shares of the company's stock traded hands, compared to its average volume of 1,309,219. Qifu Technology, Inc. has a 1 year low of $13.71 and a 1 year high of $35.80. The business has a 50-day simple moving average of $31.61 and a 200-day simple moving average of $24.91. The stock has a market capitalization of $5.76 billion, a P/E ratio of 7.02, a PEG ratio of 0.31 and a beta of 0.61.

Analyst Upgrades and Downgrades

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

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.