Qifu Technology, Inc. (NASDAQ:QFIN) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP raised its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 238.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,908 shares of the company’s stock after buying an additional 162,043 shares during the period. Wellington Management Group LLP owned about 0.14% of Qifu Technology worth $6,854,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of QFIN. Blue Trust Inc. increased its stake in Qifu Technology by 598.4% during the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock worth $32,000 after buying an additional 1,484 shares during the period. Bank of New York Mellon Corp increased its position in shares of Qifu Technology by 29.9% during the second quarter. Bank of New York Mellon Corp now owns 124,713 shares of the company’s stock worth $2,461,000 after acquiring an additional 28,675 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Qifu Technology by 23.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,690 shares of the company’s stock valued at $1,158,000 after acquiring an additional 11,092 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Qifu Technology in the second quarter valued at $8,639,000. Finally, Principal Financial Group Inc. grew its stake in Qifu Technology by 1.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,105,606 shares of the company’s stock worth $21,814,000 after purchasing an additional 20,692 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Qifu Technology Stock Down 1.4 %

Shares of NASDAQ:QFIN opened at $38.30 on Tuesday. Qifu Technology, Inc. has a fifty-two week low of $13.71 and a fifty-two week high of $40.31. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 0.33 and a beta of 0.64. The firm’s 50 day moving average price is $34.08 and its 200 day moving average price is $26.57.

Analyst Upgrades and Downgrades

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

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.