Pagaya Technologies Ltd. (NASDAQ:PGY) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Pagaya Technologies Ltd. (NASDAQ:PGY) by 16.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,266 shares of the company’s stock after selling 16,777 shares during the period. Bank of New York Mellon Corp owned 0.12% of Pagaya Technologies worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its holdings in Pagaya Technologies by 80.7% in the 4th quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock worth $123,000 after buying an additional 5,925 shares during the period. Rhumbline Advisers boosted its holdings in shares of Pagaya Technologies by 14.7% in the 4th quarter. Rhumbline Advisers now owns 75,620 shares of the company’s stock valued at $703,000 after acquiring an additional 9,674 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Pagaya Technologies in the fourth quarter worth $114,000. R Squared Ltd purchased a new position in shares of Pagaya Technologies during the fourth quarter worth $30,000. Finally, Nisa Investment Advisors LLC acquired a new position in Pagaya Technologies during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Trading Down 0.6 %

Shares of PGY stock opened at $12.36 on Wednesday. Pagaya Technologies Ltd. has a 1-year low of $8.20 and a 1-year high of $19.20. The company has a market cap of $910.39 million, a price-to-earnings ratio of -2.25 and a beta of 5.98. 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 stock has a 50 day simple moving average of $11.40 and a 200-day simple moving average of $10.92.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly 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 company had revenue of $279.39 million during 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 period in the previous year, the firm posted $0.24 EPS. On average, equities research analysts expect that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Pagaya Technologies news, insider Tami Rosen sold 35,369 shares of the firm’s 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 transaction, the insider now owns 38,181 shares in the company, valued at approximately $572,715. This trade represents a 48.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Sanjiv Das sold 6,343 shares of Pagaya Technologies stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $63,239.71. Following the sale, the president now directly owns 75,528 shares in the company, valued at approximately $753,014.16. This trade represents a 7.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,692 shares of company stock worth $1,205,379 in the last 90 days. Insiders own 49.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PGY. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $14.50 in a research note on Friday, February 7th. B. Riley reiterated a “buy” rating and set a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a report on Thursday, February 13th. Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Finally, UBS Group began coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.61.

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.