Allspring Global Investments Holdings LLC Sells 497,408 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 97.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 13,717 shares of the company's stock after selling 497,408 shares during the period. Allspring Global Investments Holdings LLC's holdings in Pagaya Technologies were worth $145,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Pagaya Technologies by 5,431.3% during the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock worth $46,000 after acquiring an additional 4,345 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $43,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $67,000. Jefferies Financial Group Inc. acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $93,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $94,000. 57.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Pagaya Technologies

In other news, insider Tami Rosen sold 14,645 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $22.57, for a total value of $330,537.65. Following the transaction, the insider owned 49,440 shares of the company's stock, valued at approximately $1,115,860.80. This trade represents a 22.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Avital Pardo sold 239,989 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $4,715,783.85. Following the completion of the transaction, the chief technology officer directly owned 802,961 shares in the company, valued at $15,778,183.65. This trade represents a 23.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,345,470 shares of company stock worth $24,118,452 over the last quarter. Company insiders own 47.59% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Oppenheimer increased their target price on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Stephens assumed coverage on shares of Pagaya Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $22.00 target price for the company. Wall Street Zen cut shares of Pagaya Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. JMP Securities restated a "market outperform" rating and issued a $26.00 price objective on shares of Pagaya Technologies in a research report on Tuesday, June 24th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Pagaya Technologies from $23.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.45.

Pagaya Technologies Trading Up 0.2%

Shares of NASDAQ PGY traded up $0.04 during mid-day trading on Wednesday, hitting $23.53. The company's stock had a trading volume of 1,880,240 shares, compared to its average volume of 2,057,981. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -4.64 and a beta of 5.93. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.79 and a quick ratio of 1.79. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $24.09. The company's fifty day simple moving average is $18.21 and its 200-day simple moving average is $13.35.

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.