Allspring Global Investments Holdings LLC Has $12.04 Million Position in Pagaya Technologies Ltd. $PGY

Allspring Global Investments Holdings LLC grew its position in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 141.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,029,081 shares of the company's stock after acquiring an additional 602,992 shares during the period. Allspring Global Investments Holdings LLC owned about 1.25% of Pagaya Technologies worth $12,040,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in Pagaya Technologies by 1,231.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company's stock valued at $25,591,000 after purchasing an additional 1,110,208 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Pagaya Technologies by 320.1% in the first 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 during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Pagaya Technologies by 221.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company's stock valued at $28,833,000 after purchasing an additional 950,443 shares during the last quarter. Marshall Wace LLP raised its position in shares of Pagaya Technologies by 1,556.3% in the third quarter. Marshall Wace LLP now owns 672,008 shares of the company's stock valued at $19,952,000 after purchasing an additional 631,435 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Pagaya Technologies by 2,722.3% in the first quarter. AQR Capital Management LLC now owns 305,710 shares of the company's stock valued at $3,204,000 after purchasing an additional 294,878 shares during the period. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pagaya Technologies news, CAO Cory Vieira sold 2,140 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total transaction of $32,121.40. Following the sale, the chief accounting officer directly owned 18,179 shares of the company's stock, valued at $272,866.79. The trade was a 10.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Evangelos Perros sold 11,558 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $16.23, for a total transaction of $187,586.34. Following the sale, the insider directly owned 131,241 shares of the company's stock, valued at $2,130,041.43. This represents a 8.09% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 58,090 shares of company stock valued at $923,764 over the last three months. Insiders own 41.99% of the company's stock.

Pagaya Technologies Stock Up 2.3%

Shares of PGY opened at $17.48 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99. The company has a market cap of $1.45 billion, a P/E ratio of 16.34 and a beta of 5.32. The firm has a 50 day simple moving average of $15.62 and a two-hundred day simple moving average of $15.34.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last released its earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. The business had revenue of $91.63 million during the quarter. Research analysts forecast that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PGY has been the topic of several research analyst reports. Texas Capital raised shares of Pagaya Technologies to a "strong-buy" rating in a report on Wednesday, June 10th. Canaccord Genuity Group restated a "buy" rating and set a $32.00 price objective on shares of Pagaya Technologies in a report on Monday, May 18th. Weiss Ratings raised Pagaya Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 18th. Finally, Zacks Research lowered Pagaya Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $35.86.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.

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