Barclays PLC Makes New Investment in Pagaya Technologies Ltd. (NASDAQ:PGY)

Barclays PLC acquired a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 64,106 shares of the company's stock, valued at approximately $595,000. Barclays PLC owned about 0.09% of Pagaya Technologies as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kennedy Capital Management LLC bought a new stake in shares of Pagaya Technologies during the 4th quarter valued at $2,701,000. Scotia Capital Inc. acquired a new position in Pagaya Technologies in the fourth quarter valued at about $281,000. Invesco Ltd. boosted its holdings in Pagaya Technologies by 1.8% during the fourth quarter. Invesco Ltd. now owns 48,030 shares of the company's stock worth $446,000 after buying an additional 864 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Pagaya Technologies by 9.1% in the 4th quarter. Federated Hermes Inc. now owns 167,885 shares of the company's stock valued at $1,560,000 after acquiring an additional 14,072 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Pagaya Technologies in the 4th quarter valued at approximately $43,000. Institutional investors own 57.14% of the company's stock.

Analysts Set New Price Targets

PGY has been the topic of several analyst reports. Citigroup upgraded shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and increased their target price for the stock from $13.00 to $14.50 in a report on Friday, February 7th. Benchmark reiterated a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. Canaccord Genuity Group restated a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities increased their target price on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Finally, B. Riley reissued a "buy" rating and set a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $20.61.

Pagaya Technologies Stock Performance

Shares of Pagaya Technologies stock traded up $0.40 on Wednesday, hitting $15.36. The stock had a trading volume of 1,054,606 shares, compared to its average volume of 2,392,322. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -2.79 and a beta of 5.88. The business's 50 day moving average is $10.83 and its two-hundred day moving average is $10.78. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $19.20.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last posted its earnings results 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). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The firm had revenue of $279.39 million for the quarter, compared to analyst estimates of $264.28 million. During the same period in the prior year, the business posted $0.24 EPS. Analysts forecast that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Insiders Place Their Bets

In other news, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the completion of the transaction, the president now directly owns 105,817 shares in the company, valued at approximately $989,388.95. The trade was a 10.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yahav Yulzari sold 238,004 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,608,140.64. Following the sale, the insider now owns 4,346,141 shares of the company's stock, valued at $65,887,497.56. The trade was a 5.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,910 shares of company stock worth $7,862,512 in the last quarter. Corporate insiders own 49.56% of the company's stock.

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.