Bailard Inc. Invests $246,000 in Pagaya Technologies Ltd. (NASDAQ:PGY)

Bailard Inc. acquired a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,500 shares of the company's stock, valued at approximately $246,000.

Several other institutional investors have also added to or reduced their stakes in PGY. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Pagaya Technologies by 9.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company's stock worth $130,000 after buying an additional 1,094 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Pagaya Technologies by 1,249.2% in the fourth quarter. BNP Paribas Financial Markets now owns 131,637 shares of the company's stock worth $1,223,000 after purchasing an additional 121,880 shares during the last quarter. Barclays PLC bought a new position in shares of Pagaya Technologies in the fourth quarter worth approximately $595,000. Bank of America Corp DE increased its position in shares of Pagaya Technologies by 9.7% in the fourth quarter. Bank of America Corp DE now owns 144,097 shares of the company's stock worth $1,339,000 after purchasing an additional 12,760 shares during the last quarter. Finally, GAMMA Investing LLC increased 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 worth $46,000 after purchasing an additional 4,345 shares during the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Price Performance

PGY traded up $0.35 during trading on Tuesday, reaching $31.66. 4,094,234 shares of the stock were exchanged, compared to its average volume of 2,139,651. The business's 50 day moving average price is $19.10 and its two-hundred day moving average price is $13.77. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -6.24 and a beta of 5.93. Pagaya Technologies Ltd. has a 1 year low of $8.20 and a 1 year high of $34.29.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PGY. JMP Securities reiterated a "market outperform" rating and set a $26.00 price target on shares of Pagaya Technologies in a research report on Tuesday, June 24th. Benchmark upped their price target on shares of Pagaya Technologies from $25.00 to $42.00 and gave the stock a "buy" rating in a research note on Friday. Wall Street Zen raised Pagaya Technologies from a "hold" rating to a "buy" rating in a research report on Friday. Keefe, Bruyette & Woods upped their price target 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. Finally, Citigroup upped their price target on Pagaya Technologies from $16.50 to $40.00 and gave the stock a "buy" rating in a research note on Monday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $26.70.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 13,821 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $21.85, for a total transaction of $301,988.85. Following the sale, the insider owned 35,619 shares in the company, valued at $778,275.15. This represents a 27.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Sanjiv Das sold 12,742 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $25.95, for a total value of $330,654.90. Following the sale, the president owned 98,562 shares in the company, valued at $2,557,683.90. The trade was a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,353,907 shares of company stock valued at $24,585,322 over the last three months. Insiders own 47.59% of the company's stock.

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.