Janney Montgomery Scott LLC Has $309,000 Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Janney Montgomery Scott LLC lessened its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 22.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,888 shares of the company’s stock after selling 1,975 shares during the period. Janney Montgomery Scott LLC’s holdings in Qifu Technology were worth $309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Aspex Management HK Ltd grew its holdings in Qifu Technology by 11.3% during the fourth quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company’s stock valued at $244,550,000 after purchasing an additional 648,088 shares during the last quarter. AQR Capital Management LLC grew its holdings in Qifu Technology by 11.9% during the fourth quarter. AQR Capital Management LLC now owns 2,432,131 shares of the company’s stock valued at $93,345,000 after purchasing an additional 258,586 shares during the last quarter. Alliancebernstein L.P. acquired a new position in Qifu Technology during the fourth quarter valued at approximately $92,150,000. Man Group plc grew its holdings in Qifu Technology by 10.4% during the fourth quarter. Man Group plc now owns 1,529,897 shares of the company’s stock valued at $58,717,000 after purchasing an additional 144,328 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Qifu Technology by 10.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company’s stock valued at $56,738,000 after purchasing an additional 134,326 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Bank of America increased their price target on Qifu Technology from $50.66 to $52.70 and gave the company a “buy” rating in a report on Wednesday, March 26th. Wall Street Zen raised Qifu Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. Finally, JPMorgan Chase & Co. started coverage on Qifu Technology in a research report on Wednesday. They issued an “overweight” rating and a $65.00 price objective for the company.

Qifu Technology Stock Up 1.7%

QFIN opened at $43.45 on Friday. Qifu Technology, Inc. has a 1-year low of $18.13 and a 1-year high of $48.94. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 6.66, a P/E/G ratio of 0.54 and a beta of 0.48. The business has a 50 day moving average of $42.90 and a 200-day moving average of $41.23.

Qifu Technology (NASDAQ:QFIN) last posted its quarterly earnings data on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.02. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. The company had revenue of $646.19 million during the quarter, compared to analysts’ expectations of $4.61 billion. As a group, sell-side analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

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.