Corton Capital Inc. Buys 35,054 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Corton Capital Inc. increased its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 346.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,186 shares of the company's stock after buying an additional 35,054 shares during the period. Corton Capital Inc. owned 0.06% of Pagaya Technologies worth $420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Pagaya Technologies by 310.6% in the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company's stock valued at $5,810,000 after purchasing an additional 473,063 shares in the last quarter. Kennedy Capital Management LLC bought a new position in shares of Pagaya Technologies during the 4th quarter worth about $2,701,000. Portolan Capital Management LLC acquired a new stake in shares of Pagaya Technologies in the 4th quarter valued at about $2,525,000. BNP Paribas Financial Markets increased its position in Pagaya Technologies by 1,249.2% in the 4th quarter. BNP Paribas Financial Markets now owns 131,637 shares of the company's stock valued at $1,223,000 after buying an additional 121,880 shares in the last quarter. Finally, Barclays PLC acquired a new position in Pagaya Technologies during the 4th quarter worth approximately $595,000. Institutional investors and hedge funds own 57.14% of the company's stock.

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY traded up $0.71 during trading on Friday, reaching $14.58. 2,859,028 shares of the stock traded hands, compared to its average volume of 1,829,460. The company has a 50-day moving average of $10.67 and a 200-day moving average of $10.74. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $19.20. The stock has a market capitalization of $1.10 billion, a P/E ratio of -2.65 and a beta of 5.88. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

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 the consensus estimate 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 business had revenue of $279.39 million during the quarter, compared to analysts' expectations of $264.28 million. During the same quarter in the previous year, the business earned $0.24 EPS. Analysts forecast 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 the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $15.00, for a total transaction of $530,535.00. Following the sale, the insider now owns 38,181 shares of the company's stock, valued at approximately $572,715. This represents a 48.09 % decrease in their position. 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 the firm's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total transaction of $119,577.15. Following the completion of the transaction, the president now directly owns 105,817 shares of the company's stock, valued at approximately $989,388.95. The trade was a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 49.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PGY. B. Riley restated a "buy" rating and set a $36.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. Canaccord Genuity Group restated a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities boosted their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Benchmark reiterated a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Finally, Citigroup upgraded Pagaya Technologies from a "neutral" rating to a "buy" rating and raised their target price for the company from $13.00 to $14.50 in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Pagaya Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $20.61.

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.