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

Pictet Asset Management Holding SA lowered its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 17.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 527,035 shares of the company’s stock after selling 111,045 shares during the period. Pictet Asset Management Holding SA’s holdings in Qfin were worth $6,804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Triata Capital Ltd increased its stake 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 worth $60,225,000 after acquiring an additional 2,041,351 shares during the last quarter. Norges Bank acquired a new stake in Qfin during the fourth quarter valued at $30,436,000. Goldman Sachs Group Inc. grew its stake in Qfin by 198.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company’s stock valued at $35,501,000 after purchasing an additional 1,224,164 shares in the last quarter. Marshall Wace LLP grew its stake in Qfin by 1,050.6% in 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. Finally, M&G PLC acquired a new position in Qfin in the 4th quarter worth about $13,331,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qfin Price Performance

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

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

Insiders Place Their Bets

In related news, Director Xiaohuan Chen bought 4,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $14.41 per share, with a total value of $57,640.00. Following the completion of the transaction, the director directly owned 19,000 shares of the company’s stock, valued at $273,790. This trade represents a 26.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.10% of the company’s stock.

Analysts Set New Price Targets

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

Qfin Company 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.