Qfin Holdings Inc. – Sponsored ADR $QFIN Shares Sold by Korea Investment CORP

Korea Investment CORP cut its position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 36.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,800 shares of the company’s stock after selling 53,800 shares during the quarter. Korea Investment CORP owned 0.07% of Qfin worth $2,757,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in QFIN. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Qfin by 44.3% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 13,030 shares of the company’s stock worth $375,000 after purchasing an additional 4,000 shares during the period. Barclays PLC boosted its holdings in shares of Qfin by 89.2% in the 3rd quarter. Barclays PLC now owns 466,449 shares of the company’s stock valued at $13,424,000 after buying an additional 219,929 shares during the period. American Century Companies Inc. grew its position in shares of Qfin by 20.6% during the 3rd quarter. American Century Companies Inc. now owns 794,274 shares of the company’s stock valued at $22,859,000 after buying an additional 135,462 shares during the last quarter. Quantbot Technologies LP raised its stake in Qfin by 107.9% during the third quarter. Quantbot Technologies LP now owns 38,118 shares of the company’s stock worth $1,097,000 after acquiring an additional 19,783 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in Qfin in the third quarter worth about $720,000. Institutional investors own 74.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. downgraded Qfin from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. Zacks Research downgraded Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qfin in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.85.

Qfin Trading Down 2.4%

Shares of NASDAQ:QFIN opened at $13.89 on Friday. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $15.96 and its 200 day moving average price is $21.48. The company has a market cap of $1.97 billion, a PE ratio of 2.02, a P/E/G ratio of 0.21 and a beta of 0.49. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $13.85 and a fifty-two week high of $48.94.

Qfin Company Profile

360 DigiTech, Inc (NASDAQ: QFIN) is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company’s flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.