Skandinaviska Enskilda Banken AB publ Sells 37,300 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

Skandinaviska Enskilda Banken AB publ lessened its position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 14.5% in the third quarter, HoldingsChannel.com reports. The firm owned 220,154 shares of the company’s stock after selling 37,300 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Qfin were worth $6,336,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in QFIN. Aspex Management HK Ltd boosted its holdings in shares of Qfin by 30.5% during the 2nd quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company’s stock worth $286,712,000 after buying an additional 1,547,312 shares in the last quarter. Norges Bank acquired a new position in shares of Qfin during the 2nd quarter valued at $43,265,000. JPMorgan Chase & Co. boosted its stake in Qfin by 116.6% during the second quarter. JPMorgan Chase & Co. now owns 1,376,477 shares of the company’s stock worth $59,684,000 after acquiring an additional 740,888 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. grew its holdings in Qfin by 22.6% in the second quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,295,438 shares of the company’s stock worth $142,890,000 after purchasing an additional 606,446 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Qfin by 32.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock valued at $72,028,000 after purchasing an additional 395,589 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Qfin Trading Down 1.4%

Shares of Qfin stock opened at $15.10 on Friday. The company has a market capitalization of $2.14 billion, a P/E ratio of 2.20, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The stock has a fifty day simple moving average of $17.39 and a 200 day simple moving average of $23.31. Qfin Holdings Inc. – Sponsored ADR has a 12-month low of $14.79 and a 12-month high of $48.94. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN) last posted its earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.16). The firm had revenue of $731.04 million during the quarter, compared to the consensus estimate of $693.21 million. Qfin had a return on equity of 28.73% and a net margin of 35.09%. On average, sell-side analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on QFIN. Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. lowered Qfin from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $21.00 in a report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qfin in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.85.

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.