Oppenheimer & Co. Inc. Purchases Shares of 4,639 Qifu Technology, Inc. (NASDAQ:QFIN)

Oppenheimer & Co. Inc. purchased a new stake in Qifu Technology, Inc. (NASDAQ:QFIN) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 4,639 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC bought a new stake in shares of Qifu Technology during the 4th quarter valued at about $26,000. Jones Financial Companies Lllp bought a new stake in shares of Qifu Technology during the 4th quarter valued at about $29,000. Virtus Investment Advisers Inc. bought a new stake in shares of Qifu Technology during the 4th quarter valued at about $61,000. iA Global Asset Management Inc. bought a new stake in shares of Qifu Technology during the 4th quarter valued at about $93,000. Finally, State of Wyoming bought a new stake in shares of Qifu Technology during the 4th quarter valued at about $97,000. Institutional investors own 74.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on QFIN. Wall Street Zen upgraded Qifu Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. JPMorgan Chase & Co. began coverage on Qifu Technology in a research report on Wednesday. They set an “overweight” rating and a $65.00 target price on the stock. Finally, Bank of America upped their target price on Qifu Technology from $50.66 to $52.70 and gave the company a “buy” rating in a research report on Wednesday, March 26th.

Qifu Technology Stock Up 1.7%

Shares of NASDAQ:QFIN opened at $43.45 on Friday. The business’s 50 day simple moving average is $42.85 and its two-hundred day simple moving average is $41.18. The firm has a market cap of $6.85 billion, a P/E ratio of 6.66, a PEG ratio of 0.53 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. Qifu Technology, Inc. has a 52-week low of $18.13 and a 52-week high of $48.94.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.02. The business had revenue of $646.19 million for the quarter, compared to analyst estimates of $4.61 billion. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. As a group, research analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

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.