Qfin Holdings Inc. – Sponsored ADR $QFIN Stock Holdings Trimmed by Korea Investment CORP

Korea Investment CORP lessened its holdings in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 36.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 95,800 shares of the company’s stock after selling 53,800 shares during the quarter. Korea Investment CORP’s holdings in Qfin were worth $2,757,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Qfin by 51.7% during the first quarter. Royal Bank of Canada now owns 6,508 shares of the company’s stock valued at $293,000 after purchasing an additional 2,219 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Qfin during the 1st quarter valued at about $29,000. Goldman Sachs Group Inc. increased its stake in Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock valued at $72,028,000 after buying an additional 395,589 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Qfin by 19.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 57,798 shares of the company’s stock worth $2,506,000 after buying an additional 9,248 shares in the last quarter. Finally, Vise Technologies Inc. bought a new stake in shares of Qfin during the 2nd quarter worth about $352,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Qfin Price Performance

Shares of NASDAQ QFIN opened at $13.89 on Friday. The firm has a 50-day moving average of $15.96 and a two-hundred day moving average of $21.48. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 2.02, a PEG ratio of 0.21 and a beta of 0.49. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.20. Qfin Holdings Inc. – Sponsored ADR has a twelve month low of $13.85 and a twelve month high of $48.94.

Analysts Set New Price Targets

QFIN has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. JPMorgan Chase & Co. downgraded 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 report on Wednesday, November 19th. Finally, Zacks Research lowered Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Qfin currently has a consensus rating of “Hold” and a consensus price target of $36.85.

About Qfin

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.