Arizona State Retirement System Has $104,000 Stock Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

Arizona State Retirement System lifted its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 10.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,154 shares of the company’s stock after purchasing an additional 1,092 shares during the quarter. Arizona State Retirement System’s holdings in Pagaya Technologies were worth $104,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd bought a new stake in Pagaya Technologies in the 4th quarter valued at approximately $30,000. Nisa Investment Advisors LLC bought a new stake in Pagaya Technologies in the 4th quarter valued at approximately $57,000. BNP Paribas Financial Markets lifted its stake in 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 acquiring an additional 3,181 shares in the last quarter. Entropy Technologies LP bought a new stake in Pagaya Technologies in the 4th quarter valued at approximately $114,000. Finally, IFP Advisors Inc lifted its stake in Pagaya Technologies by 80.7% in the 4th quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock valued at $123,000 after acquiring an additional 5,925 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other 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 directly owns 54,029 shares of the company’s stock, valued at approximately $538,669.13. This represents a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tami Rosen sold 35,369 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $15.00, for a total value of $530,535.00. Following 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 disclosure for this sale can be found here. In the last three months, insiders have sold 101,692 shares of company stock valued at $1,205,379. 49.56% of the stock is owned by insiders.

Pagaya Technologies Stock Up 9.2 %

PGY stock opened at $10.56 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $777.81 million, a PE 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 $19.20. The business’s 50 day simple moving average is $11.06 and its 200 day simple moving average is $11.02.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). The business had revenue of $279.39 million for 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 period in the previous year, the firm posted $0.24 earnings per share. As a group, research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

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.