Qifu Technology (NASDAQ:QFIN) Stock Price Down 5.2% – Should You Sell?

Qifu Technology, Inc. (NASDAQ:QFIN)’s share price was down 5.2% during mid-day trading on Monday . The company traded as low as $36.61 and last traded at $36.67. Approximately 621,617 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 624,857 shares. The stock had previously closed at $38.67.

Analysts Set New Price Targets

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

Qifu Technology Stock Up 1.8 %

The firm has a 50 day moving average of $35.80 and a 200-day moving average of $28.76. The firm has a market capitalization of $6.05 billion, a P/E ratio of 7.59, a PEG ratio of 0.33 and a beta of 0.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in Qifu Technology by 5.8% in the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company’s stock valued at $70,637,000 after buying an additional 128,381 shares during the period. Dimensional Fund Advisors LP increased its stake in Qifu Technology by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,193,893 shares of the company’s stock valued at $43,262,000 after acquiring an additional 109,809 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Qifu Technology by 66.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,369,278 shares of the company’s stock valued at $40,818,000 after purchasing an additional 548,678 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Qifu Technology in the 2nd quarter valued at $25,560,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Qifu Technology by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock worth $38,866,000 after acquiring an additional 41,139 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

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.