JPMorgan Chase & Co. Acquires 127,012 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

JPMorgan Chase & Co. grew its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 502.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 152,288 shares of the company’s stock after purchasing an additional 127,012 shares during the quarter. JPMorgan Chase & Co. owned about 0.21% of Pagaya Technologies worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in shares of Pagaya Technologies by 48.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after purchasing an additional 3,181 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Pagaya Technologies by 13.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock worth $176,000 after purchasing an additional 1,937 shares during the period. Intech Investment Management LLC bought a new position in shares of Pagaya Technologies during the 3rd quarter worth about $191,000. Virtu Financial LLC bought a new position in shares of Pagaya Technologies during the 3rd quarter worth about $223,000. Finally, MetLife Investment Management LLC increased its holdings in shares of Pagaya Technologies by 161.1% during the 3rd quarter. MetLife Investment Management LLC now owns 27,232 shares of the company’s stock worth $288,000 after purchasing an additional 16,804 shares during the period. Institutional investors own 57.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PGY shares. B. Riley decreased their target price 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. Canaccord Genuity Group decreased their target price 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. Oppenheimer started coverage on shares of Pagaya Technologies in a research report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 target price on the stock. UBS Group started coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They set a “neutral” rating and a $11.00 target price on the stock. Finally, Benchmark reiterated a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Pagaya Technologies Stock Performance

Shares of PGY opened at $9.16 on Friday. The firm has a 50-day moving average of $9.54 and a 200-day moving average of $11.50. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $674.69 million, a PE ratio of -3.61 and a beta of 6.12. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $20.00.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 7,282 shares of Pagaya Technologies stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $64,445.70. Following the completion of the sale, the president now owns 91,163 shares in the company, valued at $806,792.55. The trade was a 7.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yahav Yulzari sold 150,000 shares of Pagaya Technologies stock in a transaction dated 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 completion of the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 231,706 shares of company stock worth $3,183,722. 49.56% of the stock is owned by insiders.

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.