State Street Corp Buys 128,381 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

State Street Corp grew its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 5.8% in the third quarter, HoldingsChannel.com reports. The firm owned 2,324,831 shares of the company’s stock after purchasing an additional 128,381 shares during the period. State Street Corp’s holdings in Qifu Technology were worth $70,637,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QFIN. Natixis Advisors LLC bought a new position in shares of Qifu Technology in the third quarter valued at approximately $654,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Qifu Technology by 148.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,343 shares of the company’s stock worth $24,454,000 after acquiring an additional 489,865 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in shares of Qifu Technology by 443.0% during the third quarter. Point72 Hong Kong Ltd now owns 535,498 shares of the company’s stock worth $15,963,000 after acquiring an additional 436,882 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Qifu Technology during the second quarter worth $25,560,000. Finally, Hsbc Holdings PLC lifted its position in shares of Qifu Technology by 9.8% during the second quarter. Hsbc Holdings PLC now owns 424,904 shares of the company’s stock worth $8,377,000 after acquiring an additional 37,948 shares in the last quarter. 74.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

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 report on Thursday, November 21st.

Qifu Technology Stock Performance

Qifu Technology stock opened at $39.79 on Wednesday. The stock has a market cap of $6.42 billion, a P/E ratio of 8.02, a PEG ratio of 0.33 and a beta of 0.64. Qifu Technology, Inc. has a fifty-two week low of $13.71 and a fifty-two week high of $40.31. The firm’s fifty day moving average price is $34.19 and its 200-day moving average price is $26.70.

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.