American Century Companies Inc. Has $1.71 Million Stock Holdings in Pagaya Technologies Ltd. $PGY

Key Points

• American Century Companies Inc. has increased its stake in Pagaya Technologies Ltd. by 297% during the first quarter, owning 163,450 shares valued at approximately $1.71 million.
• Several hedge funds significantly boosted their holdings in Pagaya Technologies, with GAMMA Investing LLC increasing its stake by an extraordinary 5,431.3%.
• Analysts have a consensus rating of "Moderate Buy" for Pagaya Technologies, with price targets raised by multiple firms, reaching as high as $54.00.

American Century Companies Inc. raised its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 297.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 163,450 shares of the company's stock after purchasing an additional 122,277 shares during the period. American Century Companies Inc. owned 0.22% of Pagaya Technologies worth $1,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PGY. Barclays PLC acquired a new position in Pagaya Technologies during the 4th quarter valued at about $595,000. Hsbc Holdings PLC acquired a new position in Pagaya Technologies during the 4th quarter valued at about $172,000. Voya Investment Management LLC lifted its position in Pagaya Technologies by 62.3% during the 4th quarter. Voya Investment Management LLC now owns 23,729 shares of the company's stock valued at $220,000 after purchasing an additional 9,108 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Pagaya Technologies by 50.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,754 shares of the company's stock valued at $267,000 after purchasing an additional 9,638 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Pagaya Technologies by 1,249.2% during the 4th quarter. BNP Paribas Financial Markets now owns 131,637 shares of the company's stock valued at $1,223,000 after purchasing an additional 121,880 shares during the period. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pagaya Technologies

In other news, President Sanjiv Das sold 13,551 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $17.90, for a total transaction of $242,562.90. Following the completion of the transaction, the president directly owned 84,634 shares of the company's stock, valued at $1,514,948.60. This trade represents a 13.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yahav Yulzari sold 241,160 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $19.65, for a total transaction of $4,738,794.00. Following the transaction, the insider directly owned 3,846,564 shares of the company's stock, valued at $75,584,982.60. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 846,773 shares of company stock valued at $16,834,721 over the last quarter. Insiders own 47.59% of the company's stock.

Pagaya Technologies Stock Up 5.4%

NASDAQ PGY traded up $1.89 during trading hours on Thursday, reaching $37.18. 3,082,464 shares of the company's stock were exchanged, compared to its average volume of 2,702,730. The company's 50-day moving average is $29.36 and its two-hundred day moving average is $18.80. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $41.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -9.71 and a beta of 5.96.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PGY shares. Stephens started coverage on shares of Pagaya Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 price target on the stock. B. Riley increased their price target on shares of Pagaya Technologies from $46.00 to $54.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods increased their price target on shares of Pagaya Technologies from $27.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. JMP Securities increased their price target on shares of Pagaya Technologies from $26.00 to $35.00 and gave the company a "market outperform" rating in a research report on Monday, August 11th. Finally, Oppenheimer increased their price target on shares of Pagaya Technologies from $16.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.33.

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.