Sompo Asset Management Co. Ltd. Cuts Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Sompo Asset Management Co. Ltd. lessened its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 17.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,290 shares of the company’s stock after selling 6,180 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Qifu Technology were worth $843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Qifu Technology in the 2nd quarter valued at about $31,000. Blue Trust Inc. lifted its holdings in shares of Qifu Technology by 598.4% during the 2nd 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 in the last quarter. USA Financial Formulas purchased a new stake in Qifu Technology during the 3rd quarter worth $41,000. Venturi Wealth Management LLC acquired a new stake in Qifu Technology in the 3rd quarter valued at $54,000. Finally, Signaturefd LLC raised its holdings in shares of Qifu Technology by 67.3% during the 2nd quarter. Signaturefd LLC now owns 7,283 shares of the company’s stock valued at $144,000 after buying an additional 2,931 shares during the period. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qifu Technology Trading Down 1.9 %

Shares of QFIN stock opened at $34.53 on Friday. The firm has a fifty day simple moving average of $31.43 and a 200-day simple moving average of $24.75. The company has a market capitalization of $5.57 billion, a PE ratio of 6.99, a price-to-earnings-growth ratio of 0.32 and a beta of 0.61. Qifu Technology, Inc. has a twelve month low of $13.71 and a twelve month high of $35.44.

Analyst Ratings Changes

Separately, Citigroup upped their price target on Qifu Technology from $31.44 to $37.50 and gave the stock a “buy” rating in a report on Thursday.

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.