DGS Capital Management LLC Acquires New Position in Qifu Technology, Inc. (NASDAQ:QFIN)

DGS Capital Management LLC purchased a new position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,782 shares of the company’s stock, valued at approximately $321,000.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Qifu Technology by 5.8% in the third quarter. State Street Corp now owns 2,324,831 shares of the company’s stock worth $70,637,000 after purchasing an additional 128,381 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Qifu Technology by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,193,893 shares of the company’s stock valued at $43,262,000 after buying an additional 109,809 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Qifu Technology by 66.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,369,278 shares of the company’s stock worth $40,818,000 after acquiring an additional 548,678 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Qifu Technology in the second quarter valued at about $25,560,000. Finally, Geode Capital Management LLC raised its stake in shares of Qifu Technology by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after acquiring an additional 41,139 shares during the last quarter. 74.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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 note on Thursday, November 21st.

Qifu Technology Stock Up 3.4 %

NASDAQ:QFIN opened at $38.85 on Friday. Qifu Technology, Inc. has a twelve month low of $13.71 and a twelve month high of $40.31. The stock has a market cap of $6.27 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 0.32 and a beta of 0.64. The firm’s fifty day simple moving average is $33.96 and its 200 day simple moving average is $26.35.

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.