Patriot Financial Group Insurance Agency LLC Makes New $452,000 Investment in Pagaya Technologies Ltd. $PGY

Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 38,802 shares of the company’s stock, valued at approximately $452,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Divisadero Street Capital Management LP lifted its position in shares of Pagaya Technologies by 79.8% in the third quarter. Divisadero Street Capital Management LP now owns 416,919 shares of the company’s stock valued at $12,378,000 after acquiring an additional 185,000 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Pagaya Technologies by 3,179.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 426,089 shares of the company’s stock worth $9,493,000 after buying an additional 413,096 shares in the last quarter. Adams Street Partners LLC bought a new position in shares of Pagaya Technologies during the third quarter worth $10,526,000. HarbourVest Partners LLC purchased a new position in Pagaya Technologies during the third quarter valued at $3,343,000. Finally, Temasek Holdings Private Ltd bought a new position in shares of Pagaya Technologies during the 3rd quarter valued at about $4,277,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research note on Monday, May 18th. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Finally, Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Pagaya Technologies presently has a consensus rating of “Buy” and an average target price of $35.86.

Insider Transactions at Pagaya Technologies

In related news, Director Tami Rosen sold 9,944 shares of Pagaya Technologies stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $15.20, for a total transaction of $151,148.80. Following the completion of the transaction, the director directly owned 37,544 shares of the company’s stock, valued at approximately $570,668.80. The trade was a 20.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gal Krubiner purchased 16,230 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were purchased at an average price of $15.43 per share, for a total transaction of $250,428.90. Following the completion of the acquisition, the chief executive officer directly owned 555,906 shares in the company, valued at $8,577,629.58. The trade was a 3.01% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 67,810 shares of company stock worth $1,070,925. 47.59% of the stock is currently owned by insiders.

Pagaya Technologies Stock Up 2.8%

Shares of PGY opened at $18.77 on Thursday. The company has a market cap of $1.56 billion, a PE ratio of 17.54 and a beta of 5.31. The business has a fifty day moving average of $14.60 and a 200 day moving average of $15.78. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99. The company has a quick ratio of 12.09, a current ratio of 12.09 and a debt-to-equity ratio of 1.25.

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

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.