APG Asset Management N.V. Sells 338,100 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

APG Asset Management N.V. cut its stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 87.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,400 shares of the company’s stock after selling 338,100 shares during the period. APG Asset Management N.V.’s holdings in Qfin were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in shares of Qfin by 20.6% in the third quarter. American Century Companies Inc. now owns 794,274 shares of the company’s stock valued at $22,859,000 after purchasing an additional 135,462 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Qfin by 107.9% during the 3rd quarter. Quantbot Technologies LP now owns 38,118 shares of the company’s stock worth $1,097,000 after acquiring an additional 19,783 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Qfin in the third quarter valued at approximately $720,000. Krane Funds Advisors LLC raised its holdings in shares of Qfin by 25.1% in the third quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock valued at $182,597,000 after purchasing an additional 1,271,942 shares during the last quarter. Finally, Legacy Financial Advisors Inc. bought a new stake in shares of Qfin in the third quarter worth $201,000. Institutional investors own 74.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. Weiss Ratings restated a “hold (c)” rating on shares of Qfin in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. cut Qfin from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $21.00 in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.85.

Qfin Stock Performance

Shares of QFIN stock opened at $14.55 on Wednesday. The company has a fifty day moving average price of $16.67 and a two-hundred day moving average price of $22.12. Qfin Holdings Inc. – Sponsored ADR has a one year low of $14.04 and a one year high of $48.94. The stock has a market cap of $2.07 billion, a P/E ratio of 2.12, a P/E/G ratio of 0.23 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94.

About Qfin

360 DigiTech, Inc (NASDAQ: QFIN) is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company’s flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.