Allspring Global Investments Holdings LLC Lowers Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

Allspring Global Investments Holdings LLC cut its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 31.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,125 shares of the company’s stock after selling 233,220 shares during the period. Allspring Global Investments Holdings LLC owned 0.69% of Pagaya Technologies worth $4,922,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PGY. Tidal Investments LLC lifted its stake in Pagaya Technologies by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 41,322 shares of the company’s stock worth $437,000 after purchasing an additional 1,826 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of 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 buying an additional 1,937 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Pagaya Technologies by 48.4% in the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after buying an additional 3,181 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Pagaya Technologies in the fourth quarter worth about $30,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Pagaya Technologies in the fourth quarter worth about $57,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Trading Down 2.7 %

Shares of PGY opened at $16.50 on Thursday. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $20.00. The company has a market cap of $1.22 billion, a P/E ratio of -3.00 and a beta of 6.09. 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 company’s fifty day simple moving average is $10.26 and its 200-day simple moving average is $11.16.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data 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). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The firm had revenue of $279.39 million during the quarter, compared to analysts’ expectations of $264.28 million. During the same period last year, the company earned $0.24 earnings per share. As a group, analysts expect that Pagaya Technologies Ltd. will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

PGY has been the topic of several recent research reports. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $14.50 in a report on Friday, February 7th. JMP Securities upped their price target on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Finally, UBS Group began 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.17.

Insider Transactions at Pagaya Technologies

In related news, insider Tami Rosen sold 35,369 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $15.00, for a total transaction of $530,535.00. Following the sale, the insider now owns 38,181 shares of the company’s stock, valued at $572,715. This trade represents a 48.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Sanjiv Das sold 7,282 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction 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. This represents a 7.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,692 shares of company stock valued at $1,205,379. 49.56% of the stock is currently 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.