E Fund Management Co. Ltd. Decreases Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

E Fund Management Co. Ltd. cut its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 787,146 shares of the company’s stock after selling 86,662 shares during the quarter. Qifu Technology accounts for 1.5% of E Fund Management Co. Ltd.’s portfolio, making the stock its 13th largest position. E Fund Management Co. Ltd. owned 0.50% of Qifu Technology worth $30,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Candriam S.C.A. purchased a new position in shares of Qifu Technology in the fourth quarter valued at $27,185,000. Raymond James Financial Inc. bought a new position in Qifu Technology during the 4th quarter valued at $298,000. Aigen Investment Management LP bought a new position in Qifu Technology during the 4th quarter valued at $216,000. Jones Financial Companies Lllp bought a new position in Qifu Technology during the 4th quarter valued at $29,000. Finally, QRG Capital Management Inc. boosted its stake in Qifu Technology by 13.9% during the 4th quarter. QRG Capital Management Inc. now owns 12,959 shares of the company’s stock valued at $497,000 after acquiring an additional 1,584 shares during the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qifu Technology Stock Performance

Qifu Technology stock opened at $43.42 on Thursday. The firm’s 50-day moving average is $40.09 and its 200-day moving average is $34.57. Qifu Technology, Inc. has a 1 year low of $15.14 and a 1 year high of $46.25. The company has a market cap of $6.84 billion, a P/E ratio of 8.79, a PEG ratio of 0.32 and a beta of 0.59.

Wall Street Analyst Weigh In

Separately, Citigroup increased their price objective on shares of 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 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.