Qfin Holdings Inc. – Sponsored ADR $QFIN Stock Holdings Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 17.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 527,035 shares of the company’s stock after selling 111,045 shares during the period. Pictet Asset Management Holding SA owned approximately 0.37% of Qfin worth $6,804,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in QFIN. Triata Capital Ltd increased its holdings in shares of Qfin by 188.3% in the fourth quarter. Triata Capital Ltd now owns 3,125,331 shares of the company’s stock valued at $60,225,000 after buying an additional 2,041,351 shares in the last quarter. Norges Bank acquired a new stake in shares of Qfin during the 4th quarter valued at $30,436,000. Goldman Sachs Group Inc. boosted its stake in shares of Qfin by 198.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company’s stock worth $35,501,000 after acquiring an additional 1,224,164 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Qfin by 1,050.6% in the 3rd quarter. Marshall Wace LLP now owns 790,665 shares of the company’s stock worth $22,755,000 after acquiring an additional 721,950 shares during the last quarter. Finally, M&G PLC acquired a new position in shares of Qfin in the 4th quarter worth $13,331,000. 74.81% of the stock is currently owned by institutional investors.

Qfin Stock Performance

NASDAQ QFIN opened at $15.46 on Friday. The firm’s 50 day moving average price is $14.28 and its two-hundred day moving average price is $15.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. Qfin Holdings Inc. – Sponsored ADR has a twelve month low of $11.31 and a twelve month high of $45.05. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 2.83 and a beta of 0.57.

Qfin (NASDAQ:QFIN) last posted its quarterly earnings results on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. The firm had revenue of $567.01 million for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%. Equities analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 3.79 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings raised Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 23rd. Bank of America restated a “neutral” rating and set a $15.33 price objective on shares of Qfin in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reduced their price objective on shares of Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a research note on Wednesday, March 18th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Qfin presently has a consensus rating of “Hold” and a consensus price target of $19.91.

Insiders Place Their Bets

In other Qfin news, Director Xiaohuan Chen bought 4,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $14.41 per share, with a total value of $57,640.00. Following the purchase, the director directly owned 19,000 shares in the company, valued at $273,790. The trade was a 26.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.10% of the stock is currently owned by company insiders.

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.