Globeflex Capital L P Sells 34,341 Shares of Pagaya Technologies Ltd. $PGY

Globeflex Capital L P lowered its stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 24.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,765 shares of the company’s stock after selling 34,341 shares during the quarter. Globeflex Capital L P’s holdings in Pagaya Technologies were worth $1,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PGY. BNP Paribas Financial Markets raised its stake in shares of Pagaya Technologies by 1,231.6% during the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after acquiring an additional 1,110,208 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Pagaya Technologies by 320.1% in the 1st 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 in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Pagaya Technologies by 221.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company’s stock valued at $28,833,000 after purchasing an additional 950,443 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Pagaya Technologies by 1,556.3% during the 3rd quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock valued at $19,952,000 after purchasing an additional 631,435 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Pagaya Technologies by 141.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,029,081 shares of the company’s stock worth $12,040,000 after acquiring an additional 602,992 shares during the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on PGY shares. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Canaccord Genuity Group reissued a “buy” rating and set a $32.00 price target on shares of Pagaya Technologies in a research report on Monday, May 18th. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Finally, Texas Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $35.86.

Pagaya Technologies Trading Down 3.5%

NASDAQ PGY opened at $16.86 on Thursday. The stock has a market cap of $1.40 billion, a P/E ratio of 15.76 and a beta of 5.32. Pagaya Technologies Ltd. has a fifty-two week low of $10.40 and a fifty-two week high of $44.99. The stock has a 50 day simple moving average of $15.70 and a two-hundred day simple moving average of $15.31. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Sunday, March 22nd. The company reported ($40.85) EPS for the quarter. The company had revenue of $91.63 million during the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%. On average, analysts forecast that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Tami Rosen sold 9,944 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $15.20, for a total transaction of $151,148.80. Following the sale, the director owned 37,544 shares in the company, valued at approximately $570,668.80. The trade was a 20.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Cory Vieira sold 2,140 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.01, for a total transaction of $32,121.40. Following the completion of the sale, the chief accounting officer owned 18,179 shares in the company, valued at approximately $272,866.79. This trade represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 58,090 shares of company stock valued at $923,764 in the last 90 days. Corporate insiders own 41.99% of the company’s stock.

Pagaya Technologies Profile

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.