Wescott Financial Advisory Group LLC acquired a new position in shares of Shift Technologies, Inc. (NASDAQ:SFT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 23,608 shares of the company’s stock, valued at approximately $200,000.
Several other large investors have also added to or reduced their stakes in SFT. Polar Capital Holdings Plc acquired a new stake in shares of Shift Technologies during the 1st quarter worth about $8,218,000. Alliancebernstein L.P. acquired a new stake in shares of Shift Technologies during the 2nd quarter worth about $5,232,000. Islet Management LP increased its position in shares of Shift Technologies by 71.4% during the 1st quarter. Islet Management LP now owns 1,200,000 shares of the company’s stock worth $9,984,000 after purchasing an additional 500,000 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Shift Technologies by 45.0% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,013,190 shares of the company’s stock worth $8,693,000 after purchasing an additional 314,520 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of Shift Technologies during the 2nd quarter worth about $2,266,000. 49.64% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on SFT shares. Zacks Investment Research upgraded shares of Shift Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 14th. Truist assumed coverage on shares of Shift Technologies in a research report on Friday, September 10th. They set a “buy” rating and a $12.00 target price for the company. Truist Securities assumed coverage on shares of Shift Technologies in a research report on Friday, September 10th. They issued a “buy” rating and a $12.00 price objective for the company. Piper Sandler raised their price objective on shares of Shift Technologies from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Tuesday, June 29th. They noted that the move was a valuation call. Finally, Cantor Fitzgerald assumed coverage on shares of Shift Technologies in a research report on Thursday, June 10th. They issued an “overweight” rating and a $15.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Shift Technologies has an average rating of “Buy” and an average target price of $14.00.
Shift Technologies Company Profile
Shift Technologies, Inc provides end-to-end auto ecommerce platform for buying and selling of used cars. The company operates through two segments, Retail and Wholesale. It engages in the retail sale of used vehicles through its platform that enables mobile digital transaction, such as car searching, scheduling an on-demand test drive, and purchasing at home or at the preferred site of a test drive, as well as provides financing and services.
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