NS Partners Ltd's New Investment in Qifu Technology, Inc.

NS Partners Ltd has recently made a significant investment in Qifu Technology, Inc. (NASDAQ:QFIN) during the fourth quarter, as revealed in the latest filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 447,547 shares of the company, which amounts to a value of around $17,177,000. Following this acquisition, NS Partners Ltd holds approximately 0.28% of Qifu Technology according to their latest SEC filing.

Other institutional investors have also been active, adjusting their stakes in Qifu Technology. For instance, Geode Capital Management LLC increased its position by 3.2% in the third quarter, resulting in ownership of 1,309,635 shares valued at $38,866,000 after adding 41,139 shares during that time. Natixis Advisors LLC entered a new position in the company with an investment of about $654,000 in the same quarter. In addition, Asset Management One Co. Ltd. raised its stake by 66.8% in the fourth quarter, owning 32,873 shares now valued at $1,255,000 after purchasing an extra 13,170 shares.

Connor Clark & Lunn Investment Management Ltd. saw a significant increase of 148.2% in its position during the third quarter, holding 820,343 shares now valued at $24,454,000 after acquiring an additional 489,865 shares. Finally, Sanctuary Advisors LLC also purchased a new position in Qifu Technology amounting to approximately $1,061,000. In total, institutional investors collectively hold about 74.81% of the company's stock.

Analyst Insights

In a separate development, Citigroup raised its target price for Qifu Technology shares from $31.44 to $37.50 and issued a "buy" rating on November 21st, indicating confidence in the company's performance.

Performance Overview

The stock of Qifu Technology (NASDAQ:QFIN) opened at $40.52 on Friday. It has a fifty-day moving average price of $40.20 and a two-hundred-day moving average at $34.73. With a market cap reaching $6.39 billion, the company has a price-to-earnings (PE) ratio of 8.20 and a price-to-earnings-growth (PEG) ratio of 0.32. The stock has fluctuated in the past year, with a low of $15.16 and a high of $46.25.

About Qifu Technology

Qifu Technology, Inc. offers credit technology services under the 360 Jietiao brand within the People's Republic of China. Its services include matching borrowers with financial institutions, conducting customer acquisitions, initial credit assessments, advanced risk assessments, and various post-facilitation services along with a suite of platform services tailored for financial institutions.

investment, finance, technology