The Manufacturers Life Insurance Company Invests $187,000 in Pagaya Technologies Ltd. (NASDAQ:PGY)

The Manufacturers Life Insurance Company acquired a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 14,677 shares of the company’s stock, valued at approximately $187,000.

A number of other hedge funds also recently bought and sold shares of the business. Counterpoint Mutual Funds LLC acquired a new position in Pagaya Technologies in the 1st quarter valued at about $275,000. Allspring Global Investments Holdings LLC acquired a new stake in Pagaya Technologies during the first quarter worth $12,686,000. Mirae Asset Global Investments Co. Ltd. raised its position in Pagaya Technologies by 14.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock valued at $6,818,000 after purchasing an additional 83,913 shares during the period. Sei Investments Co. acquired a new position in shares of Pagaya Technologies in the 1st quarter valued at $1,101,000. Finally, Castle Hook Partners LP purchased a new position in shares of Pagaya Technologies during the 1st quarter worth $188,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Pagaya Technologies in a research report on Monday, August 12th. Oppenheimer assumed coverage on Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price objective on the stock. B. Riley lowered their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Benchmark reiterated a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.89.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, CTO Avital Pardo sold 11,601 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $15.83, for a total transaction of $183,643.83. Following the completion of the transaction, the chief technology officer now directly owns 433,125 shares of the company’s stock, valued at $6,856,368.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Pagaya Technologies news, CTO Avital Pardo sold 11,601 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $15.83, for a total transaction of $183,643.83. Following the sale, the chief technology officer now directly owns 433,125 shares in the company, valued at approximately $6,856,368.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Evangelos Perros sold 24,171 shares of Pagaya Technologies stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $13.55, for a total value of $327,517.05. Following the transaction, the chief financial officer now owns 23,791 shares in the company, valued at approximately $322,368.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,475 shares of company stock worth $943,456. 19.70% of the stock is currently owned by company insiders.

Pagaya Technologies Stock Performance

Pagaya Technologies stock opened at $11.62 on Friday. The firm has a market capitalization of $823.86 million, a PE ratio of -8.24 and a beta of 6.36. Pagaya Technologies Ltd. has a one year low of $8.56 and a one year high of $20.50. The stock’s 50 day moving average price is $11.99 and its 200 day moving average price is $12.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.50 and a current ratio of 1.50.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The business had revenue of $250.34 million for the quarter, compared to analysts’ expectations of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. As a group, sell-side analysts expect that Pagaya Technologies Ltd. will post -0.15 EPS for the current fiscal year.

Pagaya Technologies 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.