E Fund Management Hong Kong Co. Ltd. trimmed its holdings in Qifu Technology, Inc. (NASDAQ:QFIN – Free Report) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,578 shares of the company’s stock after selling 12,209 shares during the period. Qifu Technology makes up 1.3% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its 16th biggest holding. E Fund Management Hong Kong Co. Ltd. owned approximately 0.06% of Qifu Technology worth $1,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. OLP CAPITAL MANAGEMENT Ltd boosted its position in shares of Qifu Technology by 125.4% in the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 9,708,223 shares of the company’s stock valued at $197,659,000 after acquiring an additional 5,401,731 shares during the period. Morgan Stanley lifted its stake in Qifu Technology by 2.1% in the 4th quarter. Morgan Stanley now owns 7,715,149 shares of the company’s stock worth $157,080,000 after purchasing an additional 161,496 shares in the last quarter. Vanguard Group Inc. lifted its stake in Qifu Technology by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 4,975,876 shares of the company’s stock worth $76,579,000 after purchasing an additional 126,007 shares in the last quarter. BlackRock Inc. grew its position in shares of Qifu Technology by 3.8% during the 3rd quarter. BlackRock Inc. now owns 4,159,482 shares of the company’s stock valued at $53,323,000 after purchasing an additional 151,973 shares in the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. grew its position in shares of Qifu Technology by 48.9% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,487,153 shares of the company’s stock valued at $70,998,000 after purchasing an additional 1,145,785 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

Qifu Technology Stock Performance

QFIN stock traded down $0.26 during trading on Friday, hitting $15.99. 529,047 shares of the company traded hands, compared to its average volume of 1,008,850. The company has a 50-day moving average of $17.57 and a 200-day moving average of $18.19. Qifu Technology, Inc. has a 1 year low of $9.47 and a 1 year high of $25.49. The firm has a market capitalization of $2.58 billion, a PE ratio of 4.81, a P/E/G ratio of 0.37 and a beta of 0.48.

Qifu Technology (NASDAQ:QFIN – Get Free Report) last announced its quarterly earnings results on Thursday, May 18th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.28). Qifu Technology had a net margin of 23.86% and a return on equity of 20.52%. The business had revenue of $524.08 million for the quarter. Sell-side analysts expect that Qifu Technology, Inc. will post 3.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. TheStreet raised Qifu Technology from a “c+” rating to a “b” rating in a research note on Tuesday, June 6th. Bank of America assumed coverage on Qifu Technology in a report on Wednesday, July 5th. They set a “buy” rating and a $24.50 price objective for the company.

View Our Latest Stock Report on Qifu Technology

Qifu Technology Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding QFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qifu Technology, Inc. (NASDAQ:QFIN – Free Report).

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