Swedbank AB Buys 459,700 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Swedbank AB grew its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 156.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 754,300 shares of the company’s stock after buying an additional 459,700 shares during the period. Swedbank AB’s holdings in Qifu Technology were worth $22,486,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in QFIN. Vanguard Group Inc. boosted its position in shares of Qifu Technology by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,651,879 shares of the company’s stock worth $85,734,000 after purchasing an additional 30,522 shares during the period. California State Teachers Retirement System boosted its holdings in Qifu Technology by 8.3% in the 1st quarter. California State Teachers Retirement System now owns 62,922 shares of the company’s stock worth $1,160,000 after buying an additional 4,799 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Qifu Technology by 1.1% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 97,036 shares of the company’s stock worth $1,915,000 after buying an additional 1,012 shares during the period. SG Americas Securities LLC increased its stake in Qifu Technology by 3.1% in the 2nd quarter. SG Americas Securities LLC now owns 62,547 shares of the company’s stock worth $1,234,000 after buying an additional 1,864 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Qifu Technology by 598.4% during the second quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock valued at $32,000 after acquiring an additional 1,484 shares during the period. 74.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup upped 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 Price Performance

Qifu Technology stock opened at $33.85 on Tuesday. The firm’s 50 day moving average price is $31.43 and its 200-day moving average price is $24.82. Qifu Technology, Inc. has a 1 year low of $13.71 and a 1 year high of $35.44. The stock has a market cap of $5.46 billion, a P/E ratio of 6.85, a PEG ratio of 0.31 and a beta of 0.61.

Qifu Technology Company 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.