Qfin Holdings Inc. – Sponsored ADR $QFIN Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 38.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,530 shares of the company’s stock after selling 93,595 shares during the period. California Public Employees Retirement System owned approximately 0.11% of Qfin worth $1,956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Qfin during the 1st quarter worth approximately $29,000. SBI Securities Co. Ltd. increased its stake in Qfin by 6,796.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after purchasing an additional 1,903 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Qfin by 415.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after purchasing an additional 2,125 shares during the last quarter. Parallel Advisors LLC raised its holdings in Qfin by 24.1% during the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after purchasing an additional 656 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Qfin by 23.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after purchasing an additional 1,016 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QFIN has been the subject of a number of research analyst reports. Bank of America restated a “neutral” rating and issued a $15.33 price target on shares of Qfin in a research report on Wednesday, May 27th. Weiss Ratings lowered shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Finally, Zacks Research raised shares of Qfin from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.91.

Qfin Stock Performance

Shares of NASDAQ QFIN opened at $13.19 on Monday. The company has a 50-day simple moving average of $14.38 and a 200-day simple moving average of $14.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.22 and a quick ratio of 2.22. The company has a market cap of $1.61 billion, a PE ratio of 2.42 and a beta of 0.57. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $11.31 and a 12 month high of $36.37.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings data on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The business had revenue of $567.01 million for the quarter. On average, equities analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 3.85 earnings per share for the current year.

Insiders Place Their Bets

In other Qfin news, Director Xiaohuan Chen purchased 4,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was bought at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the acquisition, the director owned 19,000 shares of the company’s stock, valued at approximately $273,790. The trade was a 26.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 17.10% of the company’s stock.

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.