Barclays PLC Buys Shares of 64,106 Pagaya Technologies Ltd. (NASDAQ:PGY)

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

Several other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. raised its holdings in Pagaya Technologies by 1.8% in the 4th quarter. Invesco Ltd. now owns 48,030 shares of the company's stock worth $446,000 after acquiring an additional 864 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Pagaya Technologies by 10.9% during the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company's stock valued at $104,000 after purchasing an additional 1,092 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Pagaya Technologies by 15.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock valued at $101,000 after buying an additional 1,532 shares during the last quarter. Tidal Investments LLC increased its holdings in Pagaya Technologies by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 41,322 shares of the company's stock worth $437,000 after buying an additional 1,826 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Pagaya Technologies in the 4th quarter worth about $30,000. 57.14% of the stock is owned by institutional investors.

Pagaya Technologies Stock Performance

NASDAQ PGY traded up $0.71 on Friday, reaching $14.58. 2,859,028 shares of the stock were exchanged, compared to its average volume of 1,830,418. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $19.20. The firm has a market capitalization of $1.10 billion, a PE ratio of -2.65 and a beta of 5.88. The company's 50-day simple moving average is $10.67 and its two-hundred day simple moving average is $10.74.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The business had revenue of $279.39 million for the quarter, compared to the consensus estimate of $264.28 million. During the same period in the prior year, the business earned $0.24 earnings per share. Analysts expect that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Tami Rosen sold 35,369 shares of Pagaya Technologies stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $15.00, for a total value of $530,535.00. Following the completion of the transaction, the insider now owns 38,181 shares in the company, valued at approximately $572,715. This trade represents a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Sanjiv Das sold 12,789 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, April 17th. The stock was 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 owns 105,817 shares of the company's stock, valued at approximately $989,388.95. This trade represents a 10.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 49.56% of the company's stock.

Analyst Upgrades and Downgrades

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

Pagaya Technologies Company 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.