Handelsinvest Investeringsforvaltning Boosts Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Handelsinvest Investeringsforvaltning grew its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 14.3% during the first quarter, HoldingsChannel reports. The firm owned 10,828 shares of the company’s stock after buying an additional 1,353 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Qifu Technology were worth $200,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in QFIN. Parallel Advisors LLC raised its stake in shares of Qifu Technology by 83.9% during the fourth quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock valued at $38,000 after purchasing an additional 1,107 shares during the period. Janiczek Wealth Management LLC raised its stake in shares of Qifu Technology by 131.4% during the first quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company’s stock valued at $44,000 after purchasing an additional 1,355 shares during the period. Employees Retirement System of Texas purchased a new stake in shares of Qifu Technology during the third quarter valued at approximately $51,000. BOCHK Asset Management Ltd purchased a new stake in shares of Qifu Technology during the fourth quarter valued at approximately $95,000. Finally, Barometer Capital Management Inc. purchased a new stake in shares of Qifu Technology during the fourth quarter valued at approximately $127,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup lifted their price target on shares of Qifu Technology from $23.54 to $23.80 and gave the stock a “buy” rating in a research note on Thursday, March 14th.

Qifu Technology Trading Up 3.0 %

Shares of NASDAQ:QFIN opened at $20.38 on Thursday. The company has a fifty day simple moving average of $19.90 and a 200 day simple moving average of $17.53. The firm has a market cap of $3.29 billion, a PE ratio of 5.28, a price-to-earnings-growth ratio of 0.43 and a beta of 0.61. Qifu Technology, Inc. has a 12-month low of $13.68 and a 12-month high of $21.57.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings results on Sunday, May 19th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. The business had revenue of $575.21 million during the quarter, compared to analyst estimates of $590.38 million. Qifu Technology had a net margin of 26.80% and a return on equity of 20.96%. As a group, equities research analysts forecast that Qifu Technology, Inc. will post 4.19 EPS for the current fiscal year.

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.