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

Prudential PLC raised its position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 15.8% in the third quarter, HoldingsChannel reports. The firm owned 820,581 shares of the company’s stock after acquiring an additional 112,087 shares during the period. Prudential PLC’s holdings in Qfin were worth $23,616,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Aspex Management HK Ltd increased its stake 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 valued at $286,712,000 after buying an additional 1,547,312 shares during the period. Krane Funds Advisors LLC lifted its stake in Qfin by 25.1% in the third quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock worth $182,597,000 after acquiring an additional 1,271,942 shares during the period. Swedbank AB lifted its stake in Qfin by 24.2% in the third quarter. Swedbank AB now owns 1,660,064 shares of the company’s stock worth $47,777,000 after acquiring an additional 323,664 shares during the period. Goldman Sachs Group Inc. grew its holdings in Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock worth $72,028,000 after acquiring an additional 395,589 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Qfin by 116.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,376,477 shares of the company’s stock valued at $59,684,000 after purchasing an additional 740,888 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qfin Trading Down 0.4%

NASDAQ:QFIN opened at $13.84 on Friday. The company has a market capitalization of $1.97 billion, a P/E ratio of 2.02, a PEG ratio of 0.20 and a beta of 0.49. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.20. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $13.81 and a 12 month high of $48.94. The firm has a fifty day simple moving average of $15.86 and a 200-day simple moving average of $21.36.

Analysts Set New Price Targets

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

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.