Qifu Technology (NASDAQ:QFIN) Given New $37.50 Price Target at Citigroup

Qifu Technology (NASDAQ:QFIN) had its price target hoisted by Citigroup from $31.44 to $37.50 in a research report report published on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Qifu Technology Trading Down 3.4 %

NASDAQ QFIN traded down $1.21 during trading on Thursday, hitting $34.00. 414,058 shares of the company traded hands, compared to its average volume of 1,295,218. Qifu Technology has a 12 month low of $13.71 and a 12 month high of $35.44. The business has a fifty day simple moving average of $31.24 and a 200 day simple moving average of $24.65. The company has a market capitalization of $5.49 billion, a P/E ratio of 7.13, a PEG ratio of 0.44 and a beta of 0.61.

Hedge Funds Weigh In On Qifu Technology

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Qifu Technology by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock worth $38,866,000 after purchasing an additional 41,139 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Qifu Technology during the third quarter valued at about $8,487,000. Dorsey Wright & Associates increased its stake in Qifu Technology by 13.4% during the third quarter. Dorsey Wright & Associates now owns 131,812 shares of the company’s stock valued at $3,929,000 after acquiring an additional 15,585 shares during the period. XTX Topco Ltd increased its stake in Qifu Technology by 9.1% during the third quarter. XTX Topco Ltd now owns 11,913 shares of the company’s stock valued at $355,000 after acquiring an additional 997 shares during the period. Finally, National Bank of Canada FI increased its stake in Qifu Technology by 20.9% during the third quarter. National Bank of Canada FI now owns 214,910 shares of the company’s stock valued at $6,406,000 after acquiring an additional 37,110 shares during the period. Institutional investors and hedge funds 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.