Penserra Capital Management LLC Sells 4,726 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Penserra Capital Management LLC cut its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,256 shares of the company’s stock after selling 4,726 shares during the quarter. Penserra Capital Management LLC’s holdings in Qifu Technology were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Qifu Technology by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 136,368 shares of the company’s stock valued at $4,065,000 after buying an additional 7,196 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Qifu Technology by 148.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,343 shares of the company’s stock valued at $24,454,000 after acquiring an additional 489,865 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Qifu Technology during the 3rd quarter worth $473,000. Wrapmanager Inc. acquired a new position in Qifu Technology in the 3rd quarter worth about $216,000. Finally, LMR Partners LLP raised its position in Qifu Technology by 3.0% in the third quarter. LMR Partners LLP now owns 30,816 shares of the company’s stock valued at $919,000 after purchasing an additional 892 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Citigroup boosted their price target on Qifu Technology from $31.44 to $37.50 and gave the stock a “buy” rating in a report on Thursday, November 21st.

Qifu Technology Stock Performance

QFIN stock opened at $35.68 on Wednesday. The company has a market capitalization of $5.76 billion, a P/E ratio of 7.22, a PEG ratio of 0.31 and a beta of 0.61. The company has a fifty day moving average price of $31.82 and a 200-day moving average price of $25.02. Qifu Technology, Inc. has a 52-week low of $13.71 and a 52-week high of $35.80.

About Qifu Technology

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.