Qifu Technology (NASDAQ:QFIN) Shares Down 4.1% – Time to Sell?

Qifu Technology, Inc. (NASDAQ:QFIN)’s share price dropped 4.1% during trading on Thursday . The stock traded as low as $37.76 and last traded at $37.86. Approximately 378,894 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 910,485 shares. The stock had previously closed at $39.48.

Analysts Set New Price Targets

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

Qifu Technology Stock Performance

The stock has a 50 day moving average of $37.29 and a two-hundred day moving average of $30.25. The stock has a market cap of $6.29 billion, a PE ratio of 8.08, a PEG ratio of 0.30 and a beta of 0.64.

Hedge Funds Weigh In On Qifu Technology

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp increased its stake in Qifu Technology by 5.8% in the 3rd 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Qifu Technology by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,193,893 shares of the company’s stock worth $43,262,000 after purchasing an additional 109,809 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Qifu Technology by 66.9% in 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. AQR Capital Management LLC purchased a new position in Qifu Technology during the 2nd quarter valued at about $25,560,000. Finally, Geode Capital Management LLC grew its stake in Qifu Technology by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after acquiring an additional 41,139 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

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.