Asset Management One Co. Ltd. Raises Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Asset Management One Co. Ltd. grew its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 66.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,873 shares of the company’s stock after purchasing an additional 13,170 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Qifu Technology were worth $1,255,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Lester Murray Antman dba SimplyRich boosted its stake in shares of Qifu Technology by 5.7% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 14,288 shares of the company’s stock valued at $548,000 after purchasing an additional 768 shares during the period. Advisors Preferred LLC bought a new stake in shares of Qifu Technology in the fourth quarter valued at about $41,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Qifu Technology in the fourth quarter valued at about $203,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Qifu Technology by 2.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 275,792 shares of the company’s stock valued at $10,585,000 after acquiring an additional 5,492 shares in the last quarter. Finally, E. Ohman J or Asset Management AB bought a new stake in shares of Qifu Technology in the fourth quarter valued at about $315,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Qifu Technology Price Performance

QFIN stock opened at $42.42 on Friday. The business has a 50-day moving average price of $39.62 and a 200 day moving average price of $33.24. The company has a market capitalization of $6.69 billion, a P/E ratio of 8.59, a PEG ratio of 0.34 and a beta of 0.63. Qifu Technology, Inc. has a 1-year low of $15.06 and a 1-year high of $46.25.

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.