32,775 Shares in Qfin Holdings Inc. – Sponsored ADR $QFIN Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 32,775 shares of the company’s stock, valued at approximately $943,000.

Several other large investors also recently added to or reduced their stakes in the stock. Aspex Management HK Ltd increased its position in shares of Qfin by 30.5% during the second quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company’s stock worth $286,712,000 after acquiring an additional 1,547,312 shares during the period. Norges Bank bought a new position in Qfin in the second quarter worth approximately $43,265,000. JPMorgan Chase & Co. increased its holdings in Qfin by 116.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,376,477 shares of the company’s stock worth $59,684,000 after purchasing an additional 740,888 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its position in Qfin by 22.6% during the 2nd quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,295,438 shares of the company’s stock valued at $142,890,000 after purchasing an additional 606,446 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Qfin by 32.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock worth $72,028,000 after buying an additional 395,589 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qfin Trading Down 2.4%

Shares of NASDAQ QFIN opened at $16.42 on Friday. Qfin Holdings Inc. – Sponsored ADR has a 1-year low of $16.20 and a 1-year high of $48.94. The business has a fifty day moving average price of $18.85 and a 200 day moving average price of $26.33. The stock has a market capitalization of $2.33 billion, a P/E ratio of 2.39, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.94 and a quick ratio of 2.94.

Qfin (NASDAQ:QFIN) last announced its earnings results on Tuesday, November 18th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.16). Qfin had a return on equity of 28.73% and a net margin of 35.09%.The firm had revenue of $731.04 million during the quarter, compared to the consensus estimate of $693.21 million. Equities research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.