Hsbc Holdings PLC trimmed its stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN – Free Report) by 92.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,060 shares of the company’s stock after selling 316,691 shares during the period. Hsbc Holdings PLC’s holdings in Qfin were worth $321,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin during the first quarter worth approximately $29,000. SBI Securities Co. Ltd. raised its position in shares of Qfin by 6,796.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after purchasing an additional 1,903 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Qfin by 415.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after purchasing an additional 2,125 shares during the period. Parallel Advisors LLC lifted its stake in shares of Qfin by 24.1% in the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after buying an additional 656 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Qfin by 23.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after buying an additional 1,016 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.
Qfin Price Performance
Shares of QFIN stock opened at $13.88 on Monday. Qfin Holdings Inc. – Sponsored ADR has a 12 month low of $11.31 and a 12 month high of $34.95. The firm has a market cap of $1.69 billion, a PE ratio of 2.54 and a beta of 0.57. The stock has a 50 day moving average of $14.51 and a 200-day moving average of $14.39. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03.
Insiders Place Their Bets
In related news, Director Xiaohuan Chen purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the transaction, the director directly owned 19,000 shares of the company’s stock, valued at approximately $273,790. This trade represents a 26.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 17.10% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on QFIN shares. Bank of America reiterated a “neutral” rating and issued a $15.33 target price on shares of Qfin in a research note on Wednesday, May 27th. Weiss Ratings lowered shares of Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Finally, Zacks Research upgraded shares of Qfin from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.91.
Get Our Latest Analysis on QFIN
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.
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