Allspring Global Investments Holdings LLC Trims Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

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

A number of other hedge funds have also recently bought and sold shares of PGY. Pilgrim Partners Asia Pte Ltd acquired a new stake in Pagaya Technologies during the fourth quarter worth approximately $43,000. GAMMA Investing LLC boosted its position in Pagaya Technologies by 5,431.3% during the first 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 last quarter. KLP Kapitalforvaltning AS acquired a new stake in Pagaya Technologies during the fourth quarter worth approximately $67,000. Jefferies Financial Group Inc. acquired a new position in shares of Pagaya Technologies in the 4th quarter valued at $93,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Pagaya Technologies during the 4th quarter valued at $94,000. Institutional investors and hedge funds own 57.14% of the company's stock.

Pagaya Technologies Trading Down 2.3%

PGY traded down $0.54 on Friday, reaching $23.01. 1,399,040 shares of the company's stock were exchanged, compared to its average volume of 2,060,614. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.79 and a current ratio of 1.79. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $23.93. The company's 50 day moving average is $17.73 and its 200-day moving average is $13.16. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -4.54 and a beta of 5.93.

Insider Buying and Selling

In other Pagaya Technologies news, insider Tami Rosen sold 13,821 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $21.85, for a total value of $301,988.85. Following the completion of the sale, the insider owned 35,619 shares of the company's stock, valued at $778,275.15. This trade represents a 27.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Sanjiv Das sold 4,784 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $22.57, for a total transaction of $107,974.88. Following the completion of the sale, the president directly owned 88,388 shares of the company's stock, valued at $1,994,917.16. This trade represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,345,470 shares of company stock valued at $24,118,452 over the last three months. Company insiders own 47.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Pagaya Technologies from $23.00 to $27.00 and gave the stock an "outperform" rating in a report on Wednesday. Benchmark restated a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Stephens initiated coverage on Pagaya Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 price objective on the stock. JMP Securities reiterated a "market outperform" rating and set a $26.00 target price on shares of Pagaya Technologies in a report on Tuesday, June 24th. Finally, B. Riley reissued a "buy" rating and set a $36.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.45.

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.