Qifu Technology (NASDAQ:QFIN) Hits New 1-Year High – What’s Next?

Qifu Technology, Inc. (NASDAQ:QFIN)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $44.28 and last traded at $43.95, with a volume of 1146714 shares. The stock had previously closed at $43.00.

Wall Street Analysts Forecast Growth

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

Qifu Technology Stock Up 0.6 %

The stock has a market capitalization of $6.98 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.32 and a beta of 0.63. The business has a fifty day moving average price of $39.01 and a 200-day moving average price of $32.40.

Institutional Trading of Qifu Technology

A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its position 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 acquiring an additional 258,586 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in Qifu Technology during the fourth quarter valued at $92,150,000. State Street Corp increased its position in Qifu Technology by 5.8% during the third quarter. State Street Corp now owns 2,324,831 shares of the company’s stock valued at $70,637,000 after acquiring an additional 128,381 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position 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 acquiring an additional 134,326 shares during the last quarter. Finally, Causeway Capital Management LLC increased its position in Qifu Technology by 0.3% during the fourth quarter. Causeway Capital Management LLC now owns 1,377,475 shares of the company’s stock valued at $52,867,000 after acquiring an additional 4,137 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

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.