Quantinno Capital Management LP Increases Stake in Qifu Technology, Inc.

On December 15, 2024, it was reported that Quantinno Capital Management LP has increased its investment in Qifu Technology, Inc. (NASDAQ:QFIN) by acquiring an additional 1,380 shares during the third quarter of 2024. According to their latest Form 13F filing with the Securities and Exchange Commission (SEC), this move has raised their total holdings in the company to 16,456 shares, valued at approximately $491,000.

Other institutional investors are also making changes to their positions in Qifu Technology. For example, USA Financial Formulas initiated a new investment in the company during the third quarter, spending around $41,000. Point72 DIFC Ltd also acquired shares during this period, totaling about $43,000 in new investments. In the preceding quarter, Ashton Thomas Private Wealth LLC invested approximately $31,000, while Blue Trust Inc. significantly increased its stake by 598.4% in the second quarter, owning 1,732 shares valued at $32,000 after buying an additional 1,484 shares. Finally, Venturi Wealth Management LLC made a new investment worth $54,000 during the third quarter. Currently, institutional investors hold about 74.81% of the company’s stock.

Stock Performance

As of recent trading, shares of Qifu Technology opened at $38.85. The company has a market capitalization of $6.27 billion with a price-to-earnings (PE) ratio of 7.86, a price/earnings to growth (PEG) ratio of 0.32, and a beta of 0.64. Over the past year, the stock has fluctuated between a low of $13.71 and a high of $40.31. The 50-day simple moving average stands at $34.08, and the 200-day simple moving average is $26.52.

Analysts’ Insights

In other news, analysts at Citigroup have increased their target price for the shares of Qifu Technology from $31.44 to $37.50, maintaining a “buy” rating for the company in their research report released on November 21, 2024.

About Qifu Technology

Qifu Technology, Inc. operates a credit-technology platform branded as 360 Jietiao within the People's Republic of China. Through its subsidiaries, it offers credit-related services that connect borrowers with financial institutions for customer acquisition, initial credit screening, advanced risk assessments, and other services. Additionally, it provides platform services such as loan facilitation and post-facilitation services to its partners.

Investment, Shares, Qifu