JPMorgan Chase & Co. Reduces Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

JPMorgan Chase & Co. cut its position in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 63.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 504,965 shares of the company’s stock after selling 871,512 shares during the period. JPMorgan Chase & Co.’s holdings in Qfin were worth $14,533,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. TD Waterhouse Canada Inc. increased its holdings in Qfin by 2.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 16,959 shares of the company’s stock worth $504,000 after buying an additional 429 shares during the period. Personal CFO Solutions LLC raised its holdings in shares of Qfin by 6.9% during the second quarter. Personal CFO Solutions LLC now owns 8,141 shares of the company’s stock worth $353,000 after purchasing an additional 526 shares during the last quarter. iA Global Asset Management Inc. lifted its position in Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after purchasing an additional 588 shares during the period. Hantz Financial Services Inc. boosted its holdings in Qfin by 472.9% in the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after purchasing an additional 610 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin during the 1st quarter worth about $29,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Qfin Stock Up 3.5%

Qfin stock opened at $15.06 on Thursday. 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 stock has a market capitalization of $2.14 billion, a PE ratio of 2.20, a price-to-earnings-growth ratio of 0.21 and a beta of 0.49. The business has a 50 day simple moving average of $16.58 and a 200-day simple moving average of $22.07. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $14.04 and a 12 month 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.