Qifu Technology (NASDAQ:QFIN) Price Target Raised to $37.50

Qifu Technology (NASDAQ:QFIN) had its target price increased by Citigroup from $31.44 to $37.50 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Qifu Technology Trading Down 3.4 %

QFIN traded down $1.21 on Thursday, hitting $34.00. 414,058 shares of the stock traded hands, compared to its average volume of 1,295,218. Qifu Technology has a 52 week low of $13.71 and a 52 week high of $35.44. The firm has a market capitalization of $5.49 billion, a PE ratio of 7.13, a P/E/G ratio of 0.44 and a beta of 0.61. The business has a fifty day moving average price of $31.24 and a two-hundred day moving average price of $24.65.

Institutional Investors Weigh In On Qifu Technology

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new stake in Qifu Technology during the 2nd quarter worth approximately $25,560,000. Acadian Asset Management LLC raised its stake in Qifu Technology by 1,789.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,240,489 shares of the company’s stock worth $24,450,000 after buying an additional 1,174,824 shares during the period. Prudential PLC raised its stake in Qifu Technology by 634.1% during the 2nd quarter. Prudential PLC now owns 956,998 shares of the company’s stock worth $18,882,000 after buying an additional 826,631 shares during the period. Marshall Wace LLP raised its stake in Qifu Technology by 557.5% during the 2nd quarter. Marshall Wace LLP now owns 776,457 shares of the company’s stock worth $15,319,000 after buying an additional 658,366 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Qifu Technology by 66.9% during 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 purchasing an additional 548,678 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors.

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.