Charles Schwab Investment Management Inc. Grows Stock Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

Charles Schwab Investment Management Inc. boosted its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 17.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,991 shares of the company’s stock after buying an additional 16,533 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.16% of Pagaya Technologies worth $1,184,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PGY. ARK Investment Management LLC raised its stake in Pagaya Technologies by 36.2% during the 2nd quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock worth $2,830,000 after acquiring an additional 58,939 shares in the last quarter. Yarra Square Partners LP grew its holdings in shares of Pagaya Technologies by 29.9% during the second quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock worth $7,903,000 after purchasing an additional 142,500 shares during the last quarter. Millennium Management LLC increased its position in shares of Pagaya Technologies by 455.9% during the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after purchasing an additional 179,235 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Pagaya Technologies in the 2nd quarter valued at about $781,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Pagaya Technologies in the 2nd quarter valued at about $1,564,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Pagaya Technologies Stock Down 0.2 %

Pagaya Technologies stock opened at $9.74 on Wednesday. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $20.50. The firm has a market capitalization of $717.41 million, a price-to-earnings ratio of -3.83 and a beta of 6.11. The stock’s fifty day moving average is $10.84 and its two-hundred day moving average is $12.08. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PGY. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Benchmark reaffirmed a “buy” rating and set a $21.00 price objective on shares of Pagaya Technologies in a research report on Wednesday, October 16th. B. Riley dropped their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Oppenheimer assumed coverage on Pagaya Technologies in a report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price target for the company. Finally, Canaccord Genuity Group lowered 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.13.

Insider Transactions at Pagaya Technologies

In other news, insider Yahav Yulzari purchased 23,600 shares of the stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $10.52 per share, for a total transaction of $248,272.00. Following the completion of the acquisition, the insider now directly owns 311,637 shares in the company, valued at $3,278,421.24. This represents a 8.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tami Rosen sold 17,570 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.06, for a total transaction of $211,894.20. Following the sale, the insider now owns 73,516 shares in the company, valued at approximately $886,602.96. This trade represents a 19.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,045 shares of company stock valued at $2,755,982 in the last ninety days. Corporate insiders own 49.56% of the company’s stock.

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.