Sumitomo Mitsui DS Asset Management Company Ltd Purchases New Shares in Qifu Technology, Inc. (NASDAQ:QFIN)

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Qifu Technology, Inc. (NASDAQ:QFIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,288 shares of the company’s stock, valued at approximately $203,000.

Several other institutional investors also recently bought and sold shares of QFIN. Wilmington Savings Fund Society FSB acquired a new position in Qifu Technology in the 3rd quarter valued at $30,000. Point72 DIFC Ltd acquired a new position in Qifu Technology in the 3rd quarter valued at $43,000. BOCHK Asset Management Ltd acquired a new position in Qifu Technology in the 4th quarter valued at $46,000. Venturi Wealth Management LLC acquired a new position in Qifu Technology in the 3rd quarter valued at $54,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Qifu Technology by 474.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,293 shares of the company’s stock valued at $158,000 after buying an additional 4,372 shares during the period. 74.81% of the stock is owned by institutional investors and hedge funds.

Qifu Technology Stock Up 4.4 %

NASDAQ:QFIN opened at $43.00 on Thursday. Qifu Technology, Inc. has a fifty-two week low of $14.72 and a fifty-two week high of $44.00. The stock has a market cap of $6.78 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 0.32 and a beta of 0.63. The firm’s fifty day simple moving average is $38.72 and its 200-day simple moving average is $32.24.

Analyst Upgrades and Downgrades

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

Qifu Technology 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.