Pilgrim Partners Asia Pte Ltd Takes $43,000 Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

Pilgrim Partners Asia Pte Ltd acquired a new position in Pagaya Technologies Ltd. (NASDAQ:PGY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,600 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds have also recently modified their holdings of PGY. Intech Investment Management LLC purchased a new position in Pagaya Technologies during the third quarter valued at $191,000. Charles Schwab Investment Management Inc. boosted its holdings in Pagaya Technologies by 17.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock valued at $1,184,000 after acquiring an additional 16,533 shares during the period. The Manufacturers Life Insurance Company increased its stake in Pagaya Technologies by 13.2% in the 3rd 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 during the period. FMR LLC increased its holdings in Pagaya Technologies by 8.3% during the 3rd quarter. FMR LLC now owns 524,570 shares of the company’s stock worth $5,545,000 after purchasing an additional 40,031 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Pagaya Technologies by 48.4% during the 3rd 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. Institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Trading Down 0.5 %

Shares of PGY stock opened at $9.60 on Friday. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $19.20. 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 business’s 50 day moving average is $11.66 and its two-hundred day moving average is $10.84. The company has a market capitalization of $722.86 million, a P/E ratio of -1.75 and a beta of 5.98.

Pagaya Technologies (NASDAQ:PGY) last announced 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). 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 prior year, the company earned $0.24 EPS. Equities analysts forecast that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Insiders Place Their Bets

In other Pagaya Technologies news, insider Tami Rosen sold 9,846 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $12.18, for a total transaction of $119,924.28. Following the completion of the sale, the insider now directly owns 73,550 shares in the company, valued at $895,839. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Sanjiv Das sold 7,282 shares of the firm’s stock in a transaction that occurred on 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 transaction, the president now owns 91,163 shares in the company, valued at $806,792.55. The trade was a 7.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,497 shares of company stock valued at $714,905 in the last ninety days. Insiders own 49.56% of the company’s stock.

Analyst Ratings Changes

PGY has been the topic of several recent research reports. B. Riley reiterated a “buy” rating and set a $36.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. JMP Securities increased their price objective 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. Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.00 to $14.50 in a research report on Friday, February 7th. Finally, UBS Group assumed coverage on Pagaya Technologies in a research note on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.