Tidal Investments LLC Buys New Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Tidal Investments LLC purchased a new position in Qifu Technology, Inc. (NASDAQ:QFIN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 20,552 shares of the company’s stock, valued at approximately $613,000.

Several other hedge funds and other institutional investors have also made changes to their positions in QFIN. State Street Corp increased 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 raised its holdings in shares of Qifu Technology by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,193,893 shares of the company’s stock worth $43,262,000 after acquiring an additional 109,809 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of 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 valued at $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 $25,560,000. Finally, Geode Capital Management LLC grew its holdings in shares of Qifu Technology by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after purchasing an additional 41,139 shares in the last quarter. Institutional investors own 74.81% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup upped their price target on shares of Qifu Technology from $31.44 to $37.50 and gave the company a “buy” rating in a research note on Thursday, November 21st.

Qifu Technology Trading Up 0.9 %

Shares of NASDAQ:QFIN opened at $38.25 on Friday. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.33 and a beta of 0.64. Qifu Technology, Inc. has a 12 month low of $13.71 and a 12 month high of $40.31. The company has a 50-day moving average price of $34.70 and a 200 day moving average price of $27.19.

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.