Clal Insurance Enterprises Holdings Ltd Sells 345,000 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Clal Insurance Enterprises Holdings Ltd reduced its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 19.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,414,349 shares of the company’s stock after selling 345,000 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Pagaya Technologies were worth $14,950,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in shares of Pagaya Technologies during the second quarter worth approximately $74,000. SG Americas Securities LLC bought a new stake in Pagaya Technologies during the 2nd quarter valued at $101,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Pagaya Technologies during the second quarter worth $166,000. The Manufacturers Life Insurance Company bought a new position in shares of Pagaya Technologies in the second quarter valued at $187,000. Finally, Intech Investment Management LLC acquired a new position in shares of Pagaya Technologies during the third quarter valued at about $191,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PGY shares. B. Riley dropped their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. JMP Securities reissued a “market outperform” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Oppenheimer initiated coverage on shares of Pagaya Technologies in a report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price objective on the stock. Wedbush reissued a “neutral” rating and set a $13.00 price target on shares of Pagaya Technologies in a research report on Monday, August 12th. Finally, Canaccord Genuity Group reduced their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.11.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, insider Yahav Yulzari purchased 23,600 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $10.52 per share, for a total transaction of $248,272.00. Following the purchase, the insider now owns 311,637 shares of the company’s stock, valued at $3,278,421.24. This represents a 8.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Sanjiv Das sold 10,683 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $11.77, for a total transaction of $125,738.91. Following the completion of the transaction, the president now directly owns 64,794 shares of the company’s stock, valued at approximately $762,625.38. This trade represents a 14.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,045 shares of company stock worth $2,755,982. Insiders own 49.56% of the company’s stock.

Pagaya Technologies Price Performance

PGY opened at $9.57 on Friday. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $20.50. The company’s 50-day moving average price is $11.24 and its two-hundred day moving average price is $12.27. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82.

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.