Ironwood Investment Management LLC Makes New $288,000 Investment in Pagaya Technologies Ltd. (NASDAQ:PGY)

Ironwood Investment Management LLC purchased a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 31,044 shares of the company’s stock, valued at approximately $288,000.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Pagaya Technologies during the fourth quarter valued at $30,000. Nisa Investment Advisors LLC purchased a new position in shares of Pagaya Technologies during the fourth quarter valued at $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 buying an additional 3,181 shares during the period. Arizona State Retirement System increased its stake in shares of Pagaya Technologies by 10.9% during the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock valued at $104,000 after buying an additional 1,092 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of Pagaya Technologies during the fourth quarter valued at $114,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Price Performance

Shares of NASDAQ PGY opened at $10.56 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $777.81 million, a PE ratio of -1.92 and a beta of 5.97. The business has a 50-day simple moving average of $11.06 and a two-hundred day simple moving average of $11.05. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. During the same period in the prior year, the business posted $0.24 EPS. As a group, equities analysts expect that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group assumed coverage on Pagaya Technologies in a research report on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective on the stock. Citigroup raised 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. JMP Securities raised their price objective 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. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.17.

Insider Buying and Selling

In related news, insider Tami Rosen sold 35,369 shares of Pagaya Technologies 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 completion of the sale, the insider now owns 38,181 shares of the company’s stock, valued at $572,715. The trade was a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Sanjiv Das sold 7,282 shares of Pagaya Technologies stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $64,445.70. Following the sale, the president now directly owns 91,163 shares of the company’s stock, valued at $806,792.55. This trade represents a 7.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,692 shares of company stock valued at $1,205,379 over the last quarter. 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.