Mirae Asset Reduces Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Mirae Asset Global Investments Co. Ltd. has reduced its investment in Qifu Technology, Inc. (NASDAQ:QFIN – Free Report) by a significant 55.4% during the fourth quarter, as reported in its latest Form 13F filing with the Securities and Exchange Commission. Following the sale of 23,258 shares, Mirae Asset currently holds 18,716 shares of the company. The value of Mirae Asset's remaining holdings in Qifu Technology is approximately $716,000 as of the most recent reporting period.

Other investment firms have also recently adjusted their positions in Qifu Technology. Wilmington Savings Fund Society FSB entered a new investment in Qifu Technology shares during the third quarter, valued at around $30,000. Additionally, Point72 DIFC Ltd acquired a new stake valued at about $43,000, while BOCHK Asset Management Ltd invested approximately $46,000 during the same quarter. Venturi Wealth Management LLC also bought a new stake in Qifu Technology worth about $54,000 in the third quarter. Notably, Point72 Asia Singapore Pte. Ltd. significantly increased its investment in Qifu Technology by 474.7% in the third quarter, bringing its total to 5,293 shares valued at $158,000 after purchasing an additional 4,372 shares. In total, institutional investors hold approximately 74.81% of Qifu Technology's stock.

Qifu Technology Stock Performance

As of Thursday, shares of QFIN opened at $43.00. The company has a market capitalization of $6.78 billion, a PE ratio of 8.70, and a price-to-earnings-growth (PEG) ratio of 0.32. The stock has a beta of 0.63 and its 50-day moving average is $38.72, with a 200-day moving average of $32.24. Over the past year, Qifu Technology has seen a low of $14.72 and a high of $44.00.

Recent Analyst Ratings

In recent changes to analyst ratings, Citigroup has raised its target price for Qifu Technology from $31.44 to $37.50, maintaining a 'buy' rating in a research update released on November 21st.

About Qifu Technology

(Free Report) Qifu Technology, Inc. operates a credit technology platform known as 360 Jietiao in the People's Republic of China. The platform offers various credit-driven services that facilitate the matching of borrowers with financial institutions. These services include customer acquisition, initial credit screening, advanced risk assessment, and post-facilitation services, among others. Additionally, Qifu Technology also provides platform services that assist financial institution partners with loan facilitation, risk management, and related software solutions.

Mirae, Investments, Qifu, Technology, Stocks