Swiss National Bank Cuts Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Swiss National Bank lessened its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 6.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 264,307 shares of the company's stock after selling 16,800 shares during the period. Swiss National Bank owned 0.16% of Qifu Technology worth $7,879,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas purchased a new position in Qifu Technology during the third quarter valued at approximately $41,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Qifu Technology in the 2nd quarter valued at about $31,000. Blue Trust Inc. boosted its position in shares of Qifu Technology by 598.4% during the 2nd 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 last quarter. Venturi Wealth Management LLC bought a new stake in shares of Qifu Technology during the 3rd quarter valued at about $54,000. Finally, US Bancorp DE grew its holdings in shares of Qifu Technology by 16.5% during the third quarter. US Bancorp DE now owns 5,410 shares of the company's stock worth $161,000 after purchasing an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qifu Technology Stock Up 5.4 %

Shares of NASDAQ:QFIN traded up $1.83 during trading on Tuesday, hitting $35.68. The stock had a trading volume of 1,650,453 shares, compared to its average volume of 1,309,219. The company has a market capitalization of $5.76 billion, a PE ratio of 7.02, a PEG ratio of 0.31 and a beta of 0.61. The firm's fifty day moving average is $31.61 and its 200 day moving average is $24.91. Qifu Technology, Inc. has a 12 month low of $13.71 and a 12 month high of $35.80.

Analysts Set New Price Targets

Separately, Citigroup raised 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 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.