IFP Advisors Inc Acquires 5,925 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

IFP Advisors Inc lifted its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 80.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,265 shares of the company’s stock after acquiring an additional 5,925 shares during the period. IFP Advisors Inc’s holdings in Pagaya Technologies were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PGY. Point72 Asset Management L.P. boosted its stake in Pagaya Technologies by 4,374.9% during the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock valued at $3,296,000 after buying an additional 304,890 shares during the last quarter. Arizona PSPRS Trust purchased a new stake in Pagaya Technologies during the third quarter valued at approximately $2,183,000. JPMorgan Chase & Co. raised its position in Pagaya Technologies by 502.5% during the third quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock valued at $1,610,000 after purchasing an additional 127,012 shares during the period. State Street Corp raised its position in Pagaya Technologies by 14.6% during the third quarter. State Street Corp now owns 763,823 shares of the company’s stock valued at $8,074,000 after purchasing an additional 97,135 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Pagaya Technologies during the third quarter valued at approximately $787,000. 57.14% of the stock is owned by institutional investors.

Pagaya Technologies Trading Down 5.5 %

Shares of NASDAQ PGY opened at $10.96 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50 day moving average price is $10.95 and its 200-day moving average price is $11.17. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $20.00. The company has a market cap of $807.27 million, a price-to-earnings ratio of -1.99 and a beta of 6.09.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.32). The firm had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, sell-side analysts expect that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PGY shares. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $13.00 to $14.50 in a research report on Friday, February 7th. JMP Securities upped their price objective on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. UBS Group started coverage on Pagaya Technologies in a research report on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.17.

Insiders Place Their Bets

In other Pagaya Technologies news, CFO Evangelos Perros sold 21,305 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $212,410.85. Following the sale, the chief financial officer now owns 54,029 shares of the company’s stock, valued at approximately $538,669.13. This trade represents a 28.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Sanjiv Das sold 6,343 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $63,239.71. Following the sale, the president now directly owns 75,528 shares in the company, valued at $753,014.16. This trade represents a 7.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,692 shares of company stock worth $1,205,379 in the last ninety days. 49.56% of the stock is owned by company 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.