Pagaya Technologies Ltd. (NASDAQ:PGY) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,620 shares of the company’s stock after buying an additional 9,674 shares during the period. Rhumbline Advisers owned approximately 0.10% of Pagaya Technologies worth $703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PGY. R Squared Ltd acquired a new position in Pagaya Technologies during the 4th quarter valued at about $30,000. Nisa Investment Advisors LLC bought a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $57,000. BNP Paribas Financial Markets increased its stake in shares of Pagaya Technologies by 48.4% during the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock valued at $103,000 after acquiring an additional 3,181 shares during the period. Entropy Technologies LP bought a new stake in Pagaya Technologies during the fourth quarter worth approximately $114,000. Finally, The Manufacturers Life Insurance Company lifted its position in Pagaya Technologies by 13.2% in the third 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. 57.14% of the stock is owned by institutional investors.

Pagaya Technologies Trading Down 1.9 %

NASDAQ:PGY opened at $10.57 on Friday. The stock has a fifty day simple moving average of $11.02 and a 200 day simple moving average of $11.15. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $778.54 million, a price-to-earnings ratio of -1.92 and a beta of 5.98. Pagaya Technologies Ltd. has a 1-year low of $8.20 and a 1-year high of $20.00.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results 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 during the quarter, compared to analyst estimates 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. Sell-side analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Tami Rosen sold 35,369 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the sale, the insider now directly owns 38,181 shares in the company, valued at approximately $572,715. This trade represents a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Sanjiv Das sold 6,343 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $63,239.71. Following the transaction, the president now directly owns 75,528 shares in the company, valued at $753,014.16. The trade was a 7.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,692 shares of company stock valued at $1,205,379. Company insiders own 49.56% of the company’s stock.

Analyst Ratings Changes

PGY has been the topic of several research analyst reports. JMP Securities lifted their price target 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. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Thursday, February 13th. UBS Group initiated coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target on the stock. Finally, Citigroup upgraded shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.00 to $14.50 in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.17.

About Pagaya Technologies

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.