Geode Capital Management LLC Buys 43,068 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Geode Capital Management LLC raised its stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 596,992 shares of the company’s stock after purchasing an additional 43,068 shares during the quarter. Geode Capital Management LLC owned 0.83% of Pagaya Technologies worth $6,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of Pagaya Technologies by 48.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock valued at $103,000 after purchasing an additional 3,181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Pagaya Technologies during the second quarter valued at about $166,000. The Manufacturers Life Insurance Company bought a new position in shares of Pagaya Technologies during the second quarter valued at about $187,000. Intech Investment Management LLC purchased a new position in shares of Pagaya Technologies in the third quarter worth about $191,000. Finally, MetLife Investment Management LLC lifted its stake in shares of Pagaya Technologies by 161.1% in the 3rd quarter. MetLife Investment Management LLC now owns 27,232 shares of the company’s stock valued at $288,000 after acquiring an additional 16,804 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Stock Up 8.1 %

PGY stock opened at $10.41 on Friday. The business has a 50 day moving average of $10.38 and a 200 day moving average of $11.84. The firm has a market cap of $766.76 million, a PE ratio of -4.10 and a beta of 6.11. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $20.00. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PGY. Benchmark restated a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Oppenheimer started coverage on shares of Pagaya Technologies in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 target price on the stock. UBS Group began coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They set a “neutral” rating and a $11.00 price target for the company. Canaccord Genuity Group decreased 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. Finally, B. Riley lowered their price objective on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Insider Transactions at Pagaya Technologies

In related news, insider Tami Rosen sold 21,547 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $214,823.59. Following the transaction, the insider now directly owns 73,550 shares of the company’s stock, valued at approximately $733,293.50. This represents a 22.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Evangelos Perros sold 21,305 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $212,410.85. Following the completion of the transaction, the chief financial officer now owns 54,029 shares of the company’s stock, valued at $538,669.13. This represents a 28.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,240 shares of company stock valued at $3,246,456 in the last quarter. 49.56% of the stock is owned by insiders.

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.