SPX Gestao de Recursos Ltda Makes New Investment in Pagaya Technologies Ltd. $PGY

SPX Gestao de Recursos Ltda purchased a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 50,000 shares of the company’s stock, valued at approximately $1,484,000. SPX Gestao de Recursos Ltda owned approximately 0.07% of Pagaya Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PGY. Goldman Sachs Group Inc. increased its stake in Pagaya Technologies by 26.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after purchasing an additional 359,099 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Pagaya Technologies by 436.9% in the second quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock valued at $29,534,000 after purchasing an additional 1,127,242 shares during the last quarter. Millennium Management LLC grew its holdings in Pagaya Technologies by 320.1% in the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after purchasing an additional 961,944 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Pagaya Technologies by 1,231.6% in the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock valued at $25,591,000 after buying an additional 1,110,208 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Pagaya Technologies by 113.1% in the third quarter. American Century Companies Inc. now owns 1,094,799 shares of the company’s stock valued at $32,505,000 after buying an additional 581,017 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Stock Down 4.3%

Shares of NASDAQ PGY opened at $11.49 on Friday. The firm has a market cap of $923.80 million, a P/E ratio of 12.91 and a beta of 5.92. The company has a debt-to-equity ratio of 1.22, a quick ratio of 11.41 and a current ratio of 10.55. Pagaya Technologies Ltd. has a 1 year low of $8.50 and a 1 year high of $44.99. The firm’s 50 day moving average price is $17.85 and its 200 day moving average price is $25.26.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Monday, February 9th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The company had revenue of $334.81 million during the quarter, compared to the consensus estimate of $348.75 million. During the same period in the previous year, the firm posted $0.17 EPS. Pagaya Technologies’s revenue was up 19.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Canaccord Genuity Group decreased their price objective on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Keefe, Bruyette & Woods dropped their target price on shares of Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, January 2nd. Freedom Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group reduced their price target on shares of Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Benchmark lowered their price target on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.11.

Insider Buying and Selling

In other Pagaya Technologies news, President Sanjiv Das sold 3,945 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $90,695.55. Following the sale, the president directly owned 129,986 shares of the company’s stock, valued at approximately $2,988,378.14. This trade represents a 2.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Evangelos Perros sold 9,750 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $22.99, for a total transaction of $224,152.50. Following the transaction, the chief financial officer directly owned 100,212 shares of the company’s stock, valued at approximately $2,303,873.88. This represents a 8.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 21,256 shares of company stock worth $547,198. 47.59% of the stock is owned by company insiders.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.