JPMorgan Chase & Co. Sells 871,512 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

JPMorgan Chase & Co. reduced its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 63.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 504,965 shares of the company’s stock after selling 871,512 shares during the quarter. JPMorgan Chase & Co. owned about 0.36% of Qfin worth $14,533,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. APEIRON CAPITAL Ltd raised its stake in shares of Qfin by 47.5% in the third quarter. APEIRON CAPITAL Ltd now owns 793,455 shares of the company’s stock valued at $22,836,000 after acquiring an additional 255,400 shares during the period. Jupiter Asset Management Ltd. grew its holdings in Qfin by 2,878.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 390,200 shares of the company’s stock valued at $16,919,000 after purchasing an additional 377,100 shares during the last quarter. Norges Bank bought a new stake in Qfin in the second quarter worth about $43,265,000. Swedbank AB boosted its position in shares of Qfin by 24.2% during the third quarter. Swedbank AB now owns 1,660,064 shares of the company’s stock valued at $47,777,000 after buying an additional 323,664 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Qfin by 22.2% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 305,974 shares of the company’s stock valued at $13,267,000 after buying an additional 55,632 shares during the last quarter. 74.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on QFIN. Zacks Research downgraded Qfin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. downgraded shares of Qfin from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $45.00 to $21.00 in a research note on Wednesday, November 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qfin in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.85.

Qfin Price Performance

Shares of QFIN stock opened at $15.06 on Thursday. The stock’s 50-day moving average is $16.58 and its 200 day moving average is $22.07. Qfin Holdings Inc. – Sponsored ADR has a 1-year low of $14.04 and a 1-year high of $48.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94. The company has a market cap of $2.14 billion, a P/E ratio of 2.20, a PEG ratio of 0.21 and a beta of 0.49.

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.