Yunqi Capital Ltd Reduces 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 filing with the Securities and Exchange Commission. The firm owned 879,630 shares of the company’s stock after selling 780,000 shares during the period. Qifu Technology accounts for 21.6% of Yunqi Capital Ltd’s holdings, making the stock its 2nd biggest position. Yunqi Capital Ltd owned about 0.56% of Qifu Technology worth $33,760,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in Qifu Technology during the 4th quarter worth $29,000. Wilmington Savings Fund Society FSB bought a new position in Qifu Technology during the 3rd quarter worth $30,000. Advisors Preferred LLC bought a new position in Qifu Technology during the 4th quarter worth $41,000. Point72 DIFC Ltd bought a new position in Qifu Technology during the 3rd quarter worth $43,000. Finally, Global Retirement Partners LLC increased its position in Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock worth $45,000 after buying an additional 518 shares during the period. 74.81% of the stock is owned by institutional investors and hedge funds.

Qifu Technology Stock Performance

Shares of NASDAQ QFIN opened at $40.52 on Friday. Qifu Technology, Inc. has a 52 week low of $15.16 and a 52 week high of $46.25. The stock has a market capitalization of $6.39 billion, a P/E ratio of 8.20, a PEG ratio of 0.32 and a beta of 0.59. The stock’s fifty day moving average is $40.20 and its 200 day moving average is $34.80.

Analysts Set New Price Targets

Separately, Citigroup raised their price target on Qifu Technology from $31.44 to $37.50 and gave the stock a “buy” rating in a research report on Thursday, November 21st.

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.