American Century Companies Inc. Increases Stake 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. grew its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 297.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & 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 approximately 0.22% of Pagaya Technologies worth $1,713,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Pagaya Technologies by 5,431.3% in the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock valued at $46,000 after purchasing an additional 4,345 shares during the period. Jefferies Financial Group Inc. bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $93,000. ProShare Advisors LLC bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $94,000. Malaga Cove Capital LLC bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $96,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $105,000. Institutional investors own 57.14% of the company's stock.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, CTO Avital Pardo sold 239,989 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $4,715,783.85. Following the completion of the transaction, the chief technology officer owned 802,961 shares of the company's stock, valued at $15,778,183.65. The trade was a 23.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yahav Yulzari sold 241,160 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $4,738,794.00. Following the completion of the sale, the insider directly owned 3,846,564 shares of the company's stock, valued at $75,584,982.60. This trade represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 846,773 shares of company stock worth $16,834,721 in the last 90 days. 47.59% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Benchmark upped their target price on shares of Pagaya Technologies from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Wall Street Zen lowered shares of Pagaya Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. JMP Securities upped their target price on shares of Pagaya Technologies from $26.00 to $35.00 and gave the stock a "market outperform" rating in a report on Monday, August 11th. Keefe, Bruyette & Woods upped their target price on shares of Pagaya Technologies from $27.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Oppenheimer upped their target price on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.33.

Pagaya Technologies Price Performance

PGY stock traded up $0.08 during midday trading on Friday, reaching $37.26. The company had a trading volume of 3,435,516 shares, compared to its average volume of 3,685,752. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.42 and a quick ratio of 1.42. Pagaya Technologies Ltd. has a 1 year low of $8.20 and a 1 year high of $41.48. The company has a market capitalization of $2.85 billion, a P/E ratio of -9.73 and a beta of 5.96. The firm has a 50-day moving average price of $30.03 and a 200-day moving average price of $19.11.

About Pagaya Technologies

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.