Qifu Technology (NASDAQ:QFIN) Reaches New 1-Year High – Still a Buy?

Qifu Technology, Inc. (NASDAQ:QFIN)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $35.44 and last traded at $35.40, with a volume of 676853 shares. The stock had previously closed at $33.85.

Analyst Upgrades and Downgrades

Separately, Citigroup lifted their target price on shares of 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 6.2 %

The company has a fifty day moving average of $32.08 and a 200-day moving average of $25.11. The stock has a market cap of $6.11 billion, a PE ratio of 7.67, a P/E/G ratio of 0.31 and a beta of 0.61.

Institutional Trading of Qifu Technology

A number of institutional investors and hedge funds have recently bought and sold shares of QFIN. Vanguard Group Inc. grew its holdings in shares of Qifu Technology by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,651,879 shares of the company’s stock valued at $85,734,000 after purchasing an additional 30,522 shares in the last quarter. California State Teachers Retirement System boosted its position in Qifu Technology by 8.3% in the 1st quarter. California State Teachers Retirement System now owns 62,922 shares of the company’s stock valued at $1,160,000 after buying an additional 4,799 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Qifu Technology by 1.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 97,036 shares of the company’s stock worth $1,915,000 after acquiring an additional 1,012 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Qifu Technology by 3.1% during the second quarter. SG Americas Securities LLC now owns 62,547 shares of the company’s stock worth $1,234,000 after acquiring an additional 1,864 shares during the period. Finally, Blue Trust Inc. increased its position in shares of 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 acquiring an additional 1,484 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

About Qifu Technology

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.