Skandinaviska Enskilda Banken AB publ Sells 37,300 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

Skandinaviska Enskilda Banken AB publ reduced its stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 14.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,154 shares of the company’s stock after selling 37,300 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.16% of Qfin worth $6,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Qfin during the 1st quarter worth $29,000. Hantz Financial Services Inc. lifted its position in Qfin by 472.9% during the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after purchasing an additional 610 shares during the period. iA Global Asset Management Inc. grew its stake in Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock worth $36,000 after buying an additional 588 shares in the last quarter. First Horizon Advisors Inc. acquired a new position in shares of Qfin in the 2nd quarter valued at approximately $60,000. Finally, Rexford Capital Inc. bought a new stake in shares of Qfin during the 2nd quarter worth approximately $78,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Qfin Trading Down 1.4%

Shares of QFIN stock opened at $15.10 on Friday. Qfin Holdings Inc. – Sponsored ADR has a twelve month low of $14.79 and a twelve month high of $48.94. The stock’s fifty day simple moving average is $17.39 and its 200 day simple moving average is $23.31. 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 firm has a market capitalization of $2.14 billion, a P/E ratio of 2.20, a P/E/G ratio of 0.23 and a beta of 0.52.

Qfin (NASDAQ:QFIN) last released its quarterly earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.16). The firm had revenue of $731.04 million for the quarter, compared to the consensus estimate of $693.21 million. Qfin had a return on equity of 28.73% and a net margin of 35.09%. As a group, sell-side analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin 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.