Quantinno Capital Management LP Acquires Additional Shares 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). During the third quarter, the institutional investor raised its position by 9.2%, acquiring an additional 1,380 shares. This brought their total holdings in Qifu Technology to 16,456 shares, valued at approximately $491,000 at the end of the reporting period, according to their latest Form 13F filing with the Securities and Exchange Commission (SEC).

Other hedge funds and institutional investors have also made changes to their stakes in Qifu Technology. USA Financial Formulas initiated a new position, investing around $41,000 during the third quarter. Similarly, Point72 DIFC Ltd invested about $43,000 in shares of Qifu Technology in the same period. Ashton Thomas Private Wealth LLC also entered the picture, acquiring shares valued at roughly $31,000 in the second quarter. Moreover, Blue Trust Inc. significantly increased its stake by 598.4% in the second quarter, now holding a total of 1,732 shares valued at $32,000. Venturi Wealth Management LLC joined the fray with a new stake worth approximately $54,000 in the third quarter. Currently, institutional investors hold a significant portion of the stock, totaling 74.81%.

Stock Performance of Qifu Technology

As of Friday, shares of QFIN opened at $38.85. Qifu Technology boasts a market capitalization of $6.27 billion, with a price-to-earnings (PE) ratio of 7.86 and a price-to-earnings growth (PEG) ratio of 0.32. The stock has experienced a 12-month low of $13.71 and a peak of $40.31. The company has a 50-day simple moving average sitting at $34.08, with its 200-day average at $26.52.

Analysts' Insights on Qifu Technology

In a separate update, Citigroup has upgraded its outlook on Qifu Technology, raising the target price from $31.44 to $37.50 while issuing a "buy" rating in a research report dated November 21st.

About Qifu Technology

Qifu Technology, Inc., through its subsidiaries, operates a credit technology platform under the 360 Jietiao brand in China. The company specializes in credit-driven services, facilitating connections between borrowers and financial institutions, and providing services such as customer acquisition, credit screening, risk assessment, and loan facilitation.

Quantinno, Investment, Qifu