Prudential PLC Grows Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

Prudential PLC increased its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 15.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 820,581 shares of the company’s stock after acquiring an additional 112,087 shares during the quarter. Prudential PLC owned about 0.58% of Qfin worth $23,616,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Jump Financial LLC lifted its stake in Qfin by 101.8% in the 3rd quarter. Jump Financial LLC now owns 127,800 shares of the company’s stock worth $3,678,000 after purchasing an additional 64,485 shares in the last quarter. Marshall Wace LLP grew its position in shares of Qfin by 1,050.6% during the third quarter. Marshall Wace LLP now owns 790,665 shares of the company’s stock valued at $22,755,000 after purchasing an additional 721,950 shares in the last quarter. Barometer Capital Management Inc. grew its position in shares of Qfin by 41.8% during the third quarter. Barometer Capital Management Inc. now owns 26,138 shares of the company’s stock valued at $752,000 after purchasing an additional 7,700 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Qfin by 50.3% in the third quarter. BNP Paribas Financial Markets now owns 454,267 shares of the company’s stock worth $13,074,000 after purchasing an additional 151,929 shares during the last quarter. Finally, HCEP Management Ltd increased its holdings in shares of Qfin by 100.5% in the third quarter. HCEP Management Ltd now owns 352,013 shares of the company’s stock worth $10,131,000 after purchasing an additional 176,432 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors.

Qfin Trading Down 0.4%

Shares of QFIN opened at $13.84 on Friday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 2.02, a PEG ratio of 0.20 and a beta of 0.49. 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 Holdings Inc. – Sponsored ADR has a 1-year low of $13.81 and a 1-year high of $48.94. The company has a 50-day moving average of $15.86 and a 200 day moving average of $21.36.

Analysts Set New Price Targets

A number of brokerages recently commented on QFIN. JPMorgan Chase & Co. lowered Qfin from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qfin in a research note on Monday, December 29th. Finally, Zacks Research downgraded 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 given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.