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

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Pagaya Technologies during the fourth quarter worth about $43,000. GAMMA Investing LLC raised 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 valued at $46,000 after purchasing an additional 4,345 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Pagaya Technologies in the 4th quarter worth $67,000. Jefferies Financial Group Inc. acquired a new position in Pagaya Technologies in the fourth quarter valued at about $93,000. Finally, ProShare Advisors LLC bought a new position in shares of Pagaya Technologies in the fourth quarter worth about $94,000. Hedge funds and other institutional investors own 57.14% of the company's stock.

Pagaya Technologies Trading Down 2.3%

Shares of Pagaya Technologies stock traded down $0.77 on Thursday, hitting $32.87. 1,411,863 shares of the company's stock traded hands, compared to its average volume of 2,465,027. The firm's 50-day moving average price is $20.12 and its two-hundred day moving average price is $14.17. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $34.29. 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 stock has a market capitalization of $2.49 billion, a PE ratio of -6.51 and a beta of 5.93.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JMP Securities restated a "market outperform" rating and set a $26.00 target price on shares of Pagaya Technologies in a report on Tuesday, June 24th. 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. Wall Street Zen upgraded shares of Pagaya Technologies from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Citigroup upped their price objective on shares of Pagaya Technologies from $16.50 to $40.00 and gave the stock a "buy" rating in a report on Monday. Finally, Stephens initiated coverage on shares of Pagaya Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $22.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.70.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, CTO Avital Pardo sold 239,989 shares of the company's stock in a transaction dated 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 sale, the chief technology officer directly owned 802,961 shares of the company's stock, valued at approximately $15,778,183.65. This represents a 23.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tami Rosen sold 14,645 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $22.57, for a total transaction of $330,537.65. Following the sale, the insider owned 49,440 shares in the company, valued at $1,115,860.80. The trade was a 22.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,353,907 shares of company stock valued at $24,585,322 in the last 90 days. Insiders own 47.59% of the company's stock.

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.