Yunqi Capital Ltd Decreases Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Yunqi Capital Ltd lessened its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 47.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 879,630 shares of the company’s stock after selling 780,000 shares during the period. Qifu Technology comprises 21.6% of Yunqi Capital Ltd’s holdings, making the stock its 2nd biggest holding. Yunqi Capital Ltd’s holdings in Qifu Technology were worth $33,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of QFIN. Wrapmanager Inc. boosted its stake in shares of Qifu Technology by 4.1% during the fourth quarter. Wrapmanager Inc. now owns 7,554 shares of the company’s stock valued at $290,000 after purchasing an additional 296 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after purchasing an additional 518 shares in the last quarter. DGS Capital Management LLC boosted its stake in shares of Qifu Technology by 5.9% during the fourth quarter. DGS Capital Management LLC now owns 11,413 shares of the company’s stock valued at $438,000 after purchasing an additional 631 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Qifu Technology during the fourth quarter valued at about $29,000. Finally, US Bancorp DE boosted its stake 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 valued at $161,000 after purchasing an additional 765 shares in the last quarter. Institutional investors own 74.81% of the company’s stock.

Qifu Technology Price Performance

Qifu Technology stock opened at $40.52 on Friday. The stock’s 50 day moving average is $40.20 and its 200 day moving average is $34.80. The firm has a market cap of $6.39 billion, a P/E ratio of 8.20, a P/E/G ratio of 0.32 and a beta of 0.59. Qifu Technology, Inc. has a one year low of $15.16 and a one year high of $46.25.

Analysts Set New Price Targets

Separately, Citigroup lifted their price target on 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 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.