Fmr LLC Buys 40,031 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Fmr LLC boosted its stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 524,570 shares of the company’s stock after purchasing an additional 40,031 shares during the period. Fmr LLC owned about 0.73% of Pagaya Technologies worth $5,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Pagaya Technologies during the 2nd quarter valued at about $101,000. Bank of New York Mellon Corp bought a new position in shares of Pagaya Technologies in the second quarter worth approximately $1,564,000. ARK Investment Management LLC increased its stake in shares of Pagaya Technologies by 36.2% in the second quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock worth $2,830,000 after purchasing an additional 58,939 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Pagaya Technologies in the 2nd quarter worth $166,000. Finally, nVerses Capital LLC purchased a new stake in Pagaya Technologies in the 2nd quarter worth $74,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Stock Down 3.2 %

Shares of PGY opened at $9.48 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $20.50. The company has a market cap of $698.26 million, a PE ratio of -3.73 and a beta of 6.12. The business has a fifty day moving average of $10.87 and a 200 day moving average of $12.12.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Oppenheimer initiated coverage on Pagaya Technologies in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price objective for the company. Canaccord Genuity Group reduced their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $21.00 price target on shares of Pagaya Technologies in a research note on Wednesday, October 16th. JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Finally, 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 research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Pagaya Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.

Insider Buying and Selling

In related news, insider Yahav Yulzari sold 150,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $15.50, for a total value of $2,325,000.00. Following the transaction, the insider now owns 161,637 shares of the company’s stock, valued at $2,505,373.50. This trade represents a 48.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tami Rosen sold 7,659 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $12.00, for a total transaction of $91,908.00. Following the completion of the sale, the insider now directly owns 65,857 shares of the company’s stock, valued at approximately $790,284. This trade represents a 10.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,045 shares of company stock valued at $2,755,982. Company insiders own 49.56% of the company’s stock.

About Pagaya Technologies

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.