Qifu Technology, Inc. (NASDAQ:QFIN) Shares Sold by Yunqi Capital Ltd

Yunqi Capital Ltd lessened its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 47.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 879,630 shares of the company's stock after selling 780,000 shares during the quarter. Qifu Technology comprises about 21.6% of Yunqi Capital Ltd's holdings, making the stock its 2nd biggest holding. Yunqi Capital Ltd owned about 0.56% of Qifu Technology worth $33,760,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Qifu Technology by 5.8% in the third quarter. State Street Corp now owns 2,324,831 shares of the company's stock valued at $70,637,000 after acquiring an additional 128,381 shares in the last quarter. Geode Capital Management LLC increased its stake in Qifu Technology by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock valued at $38,866,000 after purchasing an additional 41,139 shares during the last quarter. Swedbank AB increased its stake in Qifu Technology by 18.7% in the fourth 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. increased its stake 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 purchasing an additional 489,865 shares during the last quarter. Finally, Candriam S.C.A. purchased a new position in Qifu Technology in the fourth quarter valued at approximately $27,185,000. Institutional investors and hedge funds own 74.81% of the company's stock.

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Qifu Technology Price Performance

Shares of QFIN traded down $0.85 during mid-day trading on Friday, reaching $40.52. 1,290,051 shares of the company's stock were exchanged, compared to its average volume of 1,224,113. The stock has a market capitalization of $6.39 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59. The business's fifty day simple moving average is $40.20 and its 200-day simple moving average is $34.87. Qifu Technology, Inc. has a 52-week low of $15.16 and a 52-week high of $46.25.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their price target 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.