Bridgewater Associates LP Increases Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Bridgewater Associates LP increased its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 2.2% in the third quarter, Holdings Channel.com reports. The firm owned 132,898 shares of the company’s stock after purchasing an additional 2,881 shares during the quarter. Bridgewater Associates LP’s holdings in Qifu Technology were worth $3,962,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Qifu Technology by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,651,879 shares of the company’s stock valued at $85,734,000 after buying an additional 30,522 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Qifu Technology by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,193,893 shares of the company’s stock worth $43,262,000 after acquiring an additional 109,809 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Qifu Technology by 66.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,369,278 shares of the company’s stock valued at $40,818,000 after acquiring an additional 548,678 shares during the period. AQR Capital Management LLC purchased a new stake in Qifu Technology in the second quarter worth $25,560,000. Finally, Acadian Asset Management LLC increased its stake in Qifu Technology by 1,789.1% in the second quarter. Acadian Asset Management LLC now owns 1,240,489 shares of the company’s stock worth $24,450,000 after purchasing an additional 1,174,824 shares during the period. 74.81% of the stock is currently owned by institutional investors.

Qifu Technology Stock Performance

Qifu Technology stock opened at $38.11 on Friday. Qifu Technology, Inc. has a fifty-two week low of $13.71 and a fifty-two week high of $38.69. The company has a market capitalization of $6.15 billion, a PE ratio of 7.71, a P/E/G ratio of 0.32 and a beta of 0.61. The company has a 50 day moving average price of $32.56 and a 200-day moving average price of $25.32.

Analysts Set New Price Targets

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

Qifu Technology Company 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.