OVERSEA CHINESE BANKING Corp Ltd Has $2.72 Million Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

OVERSEA CHINESE BANKING Corp Ltd reduced its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 35.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,829 shares of the company’s stock after selling 38,732 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Qifu Technology were worth $2,718,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Qifu Technology by 5.8% during the third quarter. State Street Corp now owns 2,324,831 shares of the company’s stock worth $70,637,000 after purchasing an additional 128,381 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Qifu Technology by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock worth $38,866,000 after purchasing an additional 41,139 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Qifu Technology by 12.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 919,967 shares of the company’s stock worth $35,308,000 after purchasing an additional 99,624 shares during the period. Swedbank AB boosted its holdings in shares of Qifu Technology by 18.7% during the fourth quarter. Swedbank AB now owns 895,300 shares of the company’s stock worth $34,362,000 after purchasing an additional 141,000 shares during the period. Finally, Candriam S.C.A. acquired a new stake in shares of Qifu Technology during the fourth quarter worth approximately $27,185,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qifu Technology Stock Up 2.1 %

NASDAQ QFIN opened at $47.66 on Thursday. The stock has a market capitalization of $7.51 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59. The company has a 50 day moving average price of $41.03 and a two-hundred day moving average price of $35.77. Qifu Technology, Inc. has a 12-month low of $17.76 and a 12-month high of $48.81.

Wall Street Analysts Forecast Growth

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 report 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.