National Pension Service Cuts Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

National Pension Service decreased its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 13.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,100 shares of the company’s stock after selling 4,700 shares during the period. National Pension Service’s holdings in Qifu Technology were worth $1,155,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of QFIN. Wilmington Savings Fund Society FSB purchased a new position in shares of Qifu Technology during the third quarter valued at approximately $30,000. Advisors Preferred LLC purchased a new position in Qifu Technology in the fourth quarter worth $41,000. Point72 DIFC Ltd purchased a new position in Qifu Technology in the third quarter worth $43,000. Global Retirement Partners LLC boosted its position in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock worth $45,000 after purchasing an additional 518 shares during the last quarter. Finally, BOCHK Asset Management Ltd purchased a new position in Qifu Technology in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Trading Down 3.2 %

QFIN stock opened at $40.08 on Friday. The stock’s fifty day simple moving average is $39.93 and its two-hundred day simple moving average is $34.13. Qifu Technology, Inc. has a 1-year low of $15.06 and a 1-year high of $46.25. The stock has a market cap of $6.32 billion, a P/E ratio of 8.11, a P/E/G ratio of 0.32 and a beta of 0.63.

Analysts Set New Price Targets

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

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.