HRT Financial LP Purchases New Stake in Shift Technologies, Inc. (NASDAQ:SFT)

HRT Financial LP purchased a new stake in Shift Technologies, Inc. (NASDAQ:SFT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 93,915 shares of the company’s stock, valued at approximately $781,000. HRT Financial LP owned 0.11% of Shift Technologies as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SFT. Citigroup Inc. raised its stake in shares of Shift Technologies by 87.6% during the first quarter. Citigroup Inc. now owns 130,318 shares of the company’s stock valued at $1,084,000 after purchasing an additional 60,860 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Shift Technologies during the fourth quarter valued at approximately $138,000. Alyeska Investment Group L.P. purchased a new stake in shares of Shift Technologies during the fourth quarter valued at approximately $4,068,000. UBS Group AG raised its stake in shares of Shift Technologies by 13,243.6% during the first quarter. UBS Group AG now owns 64,583 shares of the company’s stock valued at $537,000 after purchasing an additional 64,099 shares during the period. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Shift Technologies during the first quarter worth approximately $597,000. Hedge funds and other institutional investors own 36.17% of the company’s stock.

Shares of SFT opened at $8.80 on Thursday. Shift Technologies, Inc. has a 1 year low of $6.16 and a 1 year high of $14.49. The firm has a market capitalization of $740.47 million, a P/E ratio of -2.12 and a beta of 0.76. The company’s fifty day moving average price is $8.08.

Shift Technologies (NASDAQ:SFT) last issued its quarterly earnings data on Wednesday, May 12th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The company had revenue of $106.00 million for the quarter, compared to analyst estimates of $94.27 million. As a group, equities analysts forecast that Shift Technologies, Inc. will post -1.81 earnings per share for the current fiscal year.

In related news, insider George Arison acquired 10,008 shares of the business’s stock in a transaction that occurred on Thursday, May 27th. The shares were acquired at an average cost of $7.12 per share, for a total transaction of $71,256.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is owned by insiders.

A number of analysts have recently weighed in on SFT shares. Wedbush raised shares of Shift Technologies from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 4th. Zacks Investment Research downgraded shares of Shift Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, May 18th. Cantor Fitzgerald initiated coverage on shares of Shift Technologies in a report on Thursday, June 10th. They issued an “overweight” rating and a $15.00 price objective for the company. Finally, Piper Sandler lifted their price objective on shares of Shift Technologies from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, June 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $15.14.

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

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