Qifu Technology (NASDAQ:QFIN) Shares Down 3.4% – Time to Sell?

Shares of Qifu Technology, Inc. (NASDAQ:QFIN) fell 3.4% on Friday . The company traded as low as $33.63 and last traded at $34.00. 483,193 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 1,295,994 shares. The stock had previously closed at $35.21.

Analyst Upgrades and Downgrades

Separately, Citigroup increased their target price on Qifu Technology from $31.44 to $37.50 and gave the stock a “buy” rating in a research note on Thursday.

Qifu Technology Stock Down 2.2 %

The stock has a market cap of $5.56 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 0.44 and a beta of 0.61. The firm has a 50 day moving average price of $31.24 and a 200 day moving average price of $24.65.

Hedge Funds Weigh In On Qifu Technology

Several institutional investors have recently made changes to their positions in QFIN. Vanguard Group Inc. raised its holdings in Qifu Technology by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,651,879 shares of the company’s stock worth $85,734,000 after purchasing an additional 30,522 shares in the last quarter. State Street Corp increased 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 valued at $70,637,000 after acquiring an additional 128,381 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Qifu Technology by 5.3% during 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 in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of 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 acquiring an additional 548,678 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Qifu Technology during the second quarter valued at about $25,560,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

About Qifu Technology

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.