Avantax Advisory Services Inc. Lowers Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Avantax Advisory Services Inc. decreased its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 22.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,389 shares of the company’s stock after selling 8,315 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Qifu Technology were worth $1,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in shares of Qifu Technology in the 4th quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Qifu Technology in the 3rd quarter worth $30,000. Advisors Preferred LLC acquired a new position in shares of Qifu Technology during the fourth quarter worth about $41,000. Point72 DIFC Ltd purchased a new position in Qifu Technology during the third quarter worth about $43,000. Finally, Global Retirement Partners LLC lifted its position in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after purchasing an additional 518 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qifu Technology Stock Up 2.1 %

NASDAQ:QFIN opened at $47.66 on Thursday. The firm’s fifty day simple moving average is $41.03 and its 200-day simple moving average is $35.77. The stock has a market cap of $7.51 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59. Qifu Technology, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $48.81.

Wall Street Analyst Weigh In

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

Qifu Technology 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.