Stifel Financial Corp Decreases Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Stifel Financial Corp lessened its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 6.6% during the third quarter, HoldingsChannel.com reports. The fund owned 21,005 shares of the company’s stock after selling 1,494 shares during the quarter. Stifel Financial Corp’s holdings in Qifu Technology were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in Qifu Technology during the second quarter valued at approximately $25,560,000. Acadian Asset Management LLC lifted its holdings in shares of Qifu Technology by 1,789.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,240,489 shares of the company’s stock valued at $24,450,000 after buying an additional 1,174,824 shares during the period. Prudential PLC lifted its holdings in shares of Qifu Technology by 634.1% during the 2nd quarter. Prudential PLC now owns 956,998 shares of the company’s stock valued at $18,882,000 after buying an additional 826,631 shares during the period. Marshall Wace LLP grew its holdings in shares of Qifu Technology by 557.5% in the second quarter. Marshall Wace LLP now owns 776,457 shares of the company’s stock worth $15,319,000 after acquiring an additional 658,366 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in 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 during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Price Performance

Shares of Qifu Technology stock opened at $38.00 on Thursday. Qifu Technology, Inc. has a 1-year low of $13.71 and a 1-year high of $40.31. The company’s fifty day simple moving average is $34.94 and its 200-day simple moving average is $27.49. The stock has a market capitalization of $6.13 billion, a PE ratio of 7.69, a P/E/G ratio of 0.33 and a beta of 0.64.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised their target price 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.