Qifu Technology (NASDAQ:QFIN) Trading Down 5.2% – Time to Sell?

Qifu Technology, Inc. (NASDAQ:QFIN) shares were down 5.2% during trading on Monday . The company traded as low as $36.61 and last traded at $36.67. Approximately 621,617 shares traded hands during trading, a decline of 1% from the average daily volume of 624,857 shares. The stock had previously closed at $38.67.

Wall Street Analyst Weigh In

Separately, Citigroup raised their price objective 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 Down 5.6 %

The company’s 50-day moving average is $35.71 and its 200 day moving average is $28.46. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 0.33 and a beta of 0.64.

Institutional Investors Weigh In On Qifu Technology

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings 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 worth $38,866,000 after buying an additional 41,139 shares in the last quarter. Natixis Advisors LLC purchased a new stake in Qifu Technology during the 3rd quarter valued at about $654,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Qifu Technology by 148.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,343 shares of the company’s stock valued at $24,454,000 after acquiring an additional 489,865 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Qifu Technology in the 3rd quarter worth approximately $1,061,000. Finally, Point72 Hong Kong Ltd lifted its stake in Qifu Technology by 443.0% in the 3rd quarter. Point72 Hong Kong Ltd now owns 535,498 shares of the company’s stock worth $15,963,000 after purchasing an additional 436,882 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

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.