State Street Corp Increases Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

State Street Corp raised its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 14.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 763,823 shares of the company’s stock after buying an additional 97,135 shares during the quarter. State Street Corp owned approximately 1.06% of Pagaya Technologies worth $8,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Yarra Square Partners LP grew its position in Pagaya Technologies by 29.9% in the second quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock worth $7,903,000 after acquiring an additional 142,500 shares during the period. FMR LLC grew its holdings in shares of Pagaya Technologies by 8.3% during the 3rd quarter. FMR LLC now owns 524,570 shares of the company’s stock worth $5,545,000 after purchasing an additional 40,031 shares during the period. Point72 Asset Management L.P. increased its position in shares of Pagaya Technologies by 4,374.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock worth $3,296,000 after purchasing an additional 304,890 shares during the last quarter. Millennium Management LLC raised its holdings in Pagaya Technologies by 455.9% in the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock valued at $2,789,000 after buying an additional 179,235 shares during the period. Finally, Arizona PSPRS Trust acquired a new position in Pagaya Technologies in the third quarter valued at about $2,183,000. 57.14% of the stock is owned by institutional investors and hedge funds.

Pagaya Technologies Stock Down 3.6 %

Shares of Pagaya Technologies stock opened at $9.65 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 $20.00. The company has a market capitalization of $710.78 million, a P/E ratio of -3.80 and a beta of 6.11. The company has a 50 day moving average of $10.58 and a 200 day moving average of $11.94.

Insider Transactions at Pagaya Technologies

In other news, President Sanjiv Das sold 10,683 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $11.77, for a total value of $125,738.91. Following the completion of the transaction, the president now owns 64,794 shares in the company, valued at approximately $762,625.38. This represents a 14.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Yahav Yulzari sold 150,000 shares of Pagaya Technologies stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the sale, the insider now owns 161,637 shares in the company, valued at $2,505,373.50. This represents a 48.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 186,045 shares of company stock valued at $2,755,982. Insiders own 49.56% of the company’s stock.

Wall Street Analysts Forecast Growth

PGY has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. 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. Benchmark reissued a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a research note on Wednesday, October 16th. JMP Securities reaffirmed 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 reduced their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Pagaya Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

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.