Pagaya Technologies Ltd. (NASDAQ:PGY) Position Boosted by Corton Capital Inc.

Corton Capital Inc. lifted its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 346.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,186 shares of the company's stock after purchasing an additional 35,054 shares during the period. Corton Capital Inc. owned about 0.06% of Pagaya Technologies worth $420,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Pagaya Technologies in the 4th quarter worth approximately $30,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Pagaya Technologies in the fourth quarter valued at about $43,000. Nisa Investment Advisors LLC acquired a new position in shares of Pagaya Technologies during the fourth quarter worth about $57,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Pagaya Technologies in the fourth quarter worth about $67,000. Finally, Arizona State Retirement System grew its stake in shares of Pagaya Technologies by 10.9% in the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company's stock valued at $104,000 after buying an additional 1,092 shares in the last quarter. Hedge funds and other institutional investors own 57.14% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Pagaya Technologies

In related news, President Sanjiv Das sold 12,789 shares of Pagaya Technologies stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $9.35, for a total transaction of $119,577.15. Following the transaction, the president now directly owns 105,817 shares of the company's stock, valued at $989,388.95. The trade was a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tami Rosen sold 35,369 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the sale, the insider now directly owns 38,181 shares of the company's stock, valued at $572,715. The trade was a 48.09 % 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.

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY traded up $0.71 during midday trading on Friday, hitting $14.58. 2,859,028 shares of the company's stock were exchanged, compared to its average volume of 1,830,418. The stock's 50 day moving average price is $10.67 and its 200-day moving average price is $10.74. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $1.10 billion, a P/E ratio of -2.65 and a beta of 5.88. 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 issued 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). The business had revenue of $279.39 million for the quarter, compared to analyst estimates of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same period last year, the business posted $0.24 earnings per share. Equities research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

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.