Quadrature Capital Ltd Boosts Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

Quadrature Capital Ltd increased its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 3,558.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 784,860 shares of the company’s stock after buying an additional 763,407 shares during the period. Quadrature Capital Ltd owned about 1.33% of Pagaya Technologies worth $1,079,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathstone Family Office LLC bought a new stake in shares of Pagaya Technologies in the third quarter worth $32,000. MBE Wealth Management LLC bought a new stake in shares of Pagaya Technologies in the fourth quarter worth $31,000. Acadian Asset Management LLC bought a new stake in shares of Pagaya Technologies in the third quarter worth $38,000. Rokos Capital Management LLP bought a new stake in shares of Pagaya Technologies in the third quarter worth $321,000. Finally, Deuterium Capital Management LLC increased its stake in shares of Pagaya Technologies by 781.6% in the fourth quarter. Deuterium Capital Management LLC now owns 220,406 shares of the company’s stock worth $304,000 after buying an additional 195,406 shares during the last quarter. Institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Stock Performance

Shares of PGY opened at $12.27 on Thursday. Pagaya Technologies Ltd. has a 1 year low of $8.56 and a 1 year high of $33.96. The company has a market cap of $869.94 million, a price-to-earnings ratio of -8.70 and a beta of 6.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.36 and a current ratio of 2.36. The firm has a fifty day moving average of $11.25 and a 200-day moving average of $13.31.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.19). Pagaya Technologies had a negative net margin of 10.53% and a negative return on equity of 4.23%. The firm had revenue of $237.00 million for the quarter, compared to analyst estimates of $229.45 million. During the same period last year, the firm posted ($0.48) EPS. As a group, equities analysts anticipate that Pagaya Technologies Ltd. will post -0.17 earnings per share for the current year.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were acquired at an average cost of $10.47 per share, for a total transaction of $104,700.00. Following the completion of the purchase, the insider now directly owns 28,818 shares in the company, valued at $301,724.46. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CRO Yahav Yulzari acquired 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were acquired at an average cost of $10.17 per share, for a total transaction of $610,200.00. Following the completion of the purchase, the executive now directly owns 299,699 shares in the company, valued at $3,047,938.83. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tami Rosen purchased 10,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was acquired at an average price of $10.47 per share, for a total transaction of $104,700.00. Following the completion of the transaction, the insider now owns 28,818 shares of the company’s stock, valued at approximately $301,724.46. The disclosure for this purchase can be found here. Insiders have purchased a total of 194,807 shares of company stock worth $2,012,373 over the last ninety days.

Analysts Set New Price Targets

PGY has been the subject of a number of research analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price target on shares of Pagaya Technologies in a research note on Thursday, May 9th. Benchmark reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Pagaya Technologies in a report on Friday, May 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Friday, June 7th. Wedbush decreased their price objective on shares of Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating for the company in a report on Friday, March 15th. Finally, Citigroup began coverage on shares of Pagaya Technologies in a report on Friday, May 24th. They issued a “neutral” rating and a $14.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.94.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.