40,199 Shares in Pagaya Technologies Ltd. $PGY Acquired by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC acquired 40,199 shares of Pagaya Technologies, valued at approximately $857,000, indicating growing institutional interest in the company.
• Multiple analysts have raised their price targets for Pagaya Technologies, with Citigroup increasing their target from $16.50 to $40.00 and giving it a "buy" rating.
• Pagaya Technologies has seen significant insider selling, with insiders having sold 246,870 shares valued at over $6.4 million in the last ninety days.

Counterpoint Mutual Funds LLC acquired a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 40,199 shares of the company's stock, valued at approximately $857,000. Counterpoint Mutual Funds LLC owned approximately 0.05% of Pagaya Technologies as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Pagaya Technologies by 26.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company's stock worth $17,871,000 after acquiring an additional 359,099 shares in the last quarter. Millennium Management LLC increased its stake in Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company's stock valued at $13,230,000 after purchasing an additional 961,944 shares in the last quarter. Two Sigma Investments LP increased its stake in Pagaya Technologies by 359.6% during the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock valued at $7,675,000 after purchasing an additional 646,357 shares in the last quarter. Nuveen LLC acquired a new position in Pagaya Technologies during the 1st quarter valued at approximately $6,465,000. Finally, Cubist Systematic Strategies LLC increased its stake in Pagaya Technologies by 2,256.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 521,721 shares of the company's stock valued at $5,468,000 after purchasing an additional 499,584 shares in the last quarter. Institutional investors own 57.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PGY shares. Oppenheimer upped their price target on shares of Pagaya Technologies from $16.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Citigroup upped their price target on shares of Pagaya Technologies from $16.50 to $40.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Benchmark upped their price objective on shares of Pagaya Technologies from $42.00 to $48.00 and gave the company a "buy" rating in a report on Friday, August 8th. JMP Securities upped their price objective on shares of Pagaya Technologies from $26.00 to $35.00 and gave the company a "market outperform" rating in a report on Monday, August 11th. Finally, B. Riley upped their price objective on shares of Pagaya Technologies from $46.00 to $54.00 and gave the company a "buy" rating in a report on Monday, August 11th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $34.33.

Pagaya Technologies Stock Performance

PGY opened at $41.30 on Tuesday. The firm's fifty day simple moving average is $33.91 and its two-hundred day simple moving average is $21.28. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -10.78 and a beta of 5.96. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $44.99.

Insider Buying and Selling at Pagaya Technologies

In other news, insider Tami Rosen sold 13,870 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $41.20, for a total value of $571,444.00. Following the completion of the sale, the insider directly owned 43,207 shares in the company, valued at $1,780,128.40. This represents a 24.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dan Petrozzo sold 8,484 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $30.15, for a total transaction of $255,792.60. Following the completion of the sale, the director owned 96,278 shares of the company's stock, valued at $2,902,781.70. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,870 shares of company stock valued at $6,469,002 over the last ninety days. 47.59% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.