Wescott Financial Advisory Group LLC Invests $200,000 in Shift Technologies, Inc. (NASDAQ:SFT)

Wescott Financial Advisory Group LLC bought a new position in Shift Technologies, Inc. (NASDAQ:SFT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,608 shares of the company’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SFT. M&T Bank Corp grew its position in shares of Shift Technologies by 5.6% during the 1st quarter. M&T Bank Corp now owns 32,207 shares of the company’s stock valued at $268,000 after buying an additional 1,720 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Shift Technologies by 9.1% during the 1st quarter. Squarepoint Ops LLC now owns 26,407 shares of the company’s stock valued at $220,000 after buying an additional 2,209 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Shift Technologies during the 1st quarter valued at about $35,000. Ameritas Investment Partners Inc. bought a new stake in shares of Shift Technologies during the 2nd quarter valued at about $42,000. Finally, Northern Trust Corp grew its position in shares of Shift Technologies by 6.2% during the 1st quarter. Northern Trust Corp now owns 110,543 shares of the company’s stock valued at $920,000 after buying an additional 6,484 shares during the last quarter. 49.64% of the stock is owned by institutional investors.

SFT stock traded up $0.12 on Wednesday, hitting $7.84. 27,949 shares of the company’s stock traded hands, compared to its average volume of 1,650,851. Shift Technologies, Inc. has a 1-year low of $6.16 and a 1-year high of $13.39. The stock has a market cap of $659.94 million, a price-to-earnings ratio of -4.69 and a beta of 0.74. The stock has a fifty day moving average of $8.08 and a 200-day moving average of $8.15. The company has a current ratio of 4.39, a quick ratio of 3.00 and a debt-to-equity ratio of 0.97.

A number of equities research analysts recently weighed in on SFT shares. Zacks Investment Research raised shares of Shift Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 14th. Piper Sandler upped their target price on shares of Shift Technologies from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 29th. They noted that the move was a valuation call. Truist Financial started coverage on shares of Shift Technologies in a research report on Friday, September 10th. They issued a “buy” rating and a $12.00 target price for the company. Truist Securities started coverage on shares of Shift Technologies in a research report on Friday, September 10th. They issued a “buy” rating and a $12.00 target price for the company. Finally, Cantor Fitzgerald started coverage on shares of Shift Technologies in a research report on Thursday, June 10th. They issued an “overweight” rating and a $15.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $14.00.

Shift Technologies 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.

Further Reading: Is the QQQ ETF safe?

Want to see what other hedge funds are holding SFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shift Technologies, Inc. (NASDAQ:SFT).

Institutional Ownership by Quarter for Shift Technologies (NASDAQ:SFT)

Receive News & Ratings for Shift Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shift Technologies and related companies with MarketBeat.com's FREE daily email newsletter.