Y Intercept Hong Kong Ltd Trims Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Y Intercept Hong Kong Ltd lessened its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 50.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,207 shares of the company's stock after selling 24,917 shares during the period. Y Intercept Hong Kong Ltd's holdings in Qifu Technology were worth $722,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Qifu Technology during the second quarter valued at about $31,000. Blue Trust Inc. lifted its position in Qifu Technology by 598.4% during 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 last quarter. USA Financial Formulas purchased a new stake in Qifu Technology during the third quarter valued at approximately $41,000. Point72 DIFC Ltd acquired a new stake in Qifu Technology in the third quarter valued at approximately $43,000. Finally, Venturi Wealth Management LLC purchased a new position in Qifu Technology in the third quarter worth $54,000. 74.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their price objective on Qifu Technology from $31.44 to $37.50 and gave the company a "buy" rating in a report on Thursday, November 21st.

Qifu Technology Trading Up 3.4 %

Shares of QFIN stock traded up $1.26 during trading hours on Friday, reaching $38.85. 1,640,810 shares of the company's stock were exchanged, compared to its average volume of 1,324,636. The stock has a market cap of $6.27 billion, a PE ratio of 7.86, a PEG ratio of 0.32 and a beta of 0.64. The stock's fifty day moving average price is $34.08 and its two-hundred day moving average price is $26.52. Qifu Technology, Inc. has a 1 year low of $13.71 and a 1 year high of $40.31.

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.