Dorsey Wright & Associates Raises Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Dorsey Wright & Associates raised its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 13.4% in the third quarter, Holdings Channel reports. The fund owned 131,812 shares of the company’s stock after buying an additional 15,585 shares during the period. Dorsey Wright & Associates’ holdings in Qifu Technology were worth $3,929,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. XTX Topco Ltd increased its holdings in shares of Qifu Technology by 9.1% during the 3rd quarter. XTX Topco Ltd now owns 11,913 shares of the company’s stock worth $355,000 after buying an additional 997 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Qifu Technology by 20.9% in the 3rd quarter. National Bank of Canada FI now owns 214,910 shares of the company’s stock valued at $6,406,000 after acquiring an additional 37,110 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Qifu Technology by 238.8% in the 3rd quarter. Wellington Management Group LLP now owns 229,908 shares of the company’s stock worth $6,854,000 after acquiring an additional 162,043 shares during the last quarter. Wolverine Trading LLC purchased a new position in shares of Qifu Technology during the 3rd quarter worth approximately $253,000. Finally, State Street Corp increased its holdings in Qifu Technology by 5.8% in the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company’s stock valued at $70,637,000 after purchasing an additional 128,381 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup upped their price target on Qifu Technology from $31.44 to $37.50 and gave the stock a “buy” rating in a research note on Thursday, November 21st.

Qifu Technology Price Performance

NASDAQ QFIN opened at $36.83 on Friday. The company has a market cap of $5.94 billion, a P/E ratio of 7.46, a P/E/G ratio of 0.31 and a beta of 0.64. Qifu Technology, Inc. has a 1-year low of $13.71 and a 1-year high of $38.69. The stock has a 50-day moving average of $33.42 and a two-hundred day moving average of $25.89.

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.