Bailard Inc. bought a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,500 shares of the company's stock, valued at approximately $246,000.
A number of other hedge funds have also added to or reduced their stakes in PGY. Frontier Capital Management Co. LLC bought a new position in Pagaya Technologies in the fourth quarter valued at approximately $28,070,000. Point72 Asset Management L.P. boosted its holdings in shares of Pagaya Technologies by 284.3% in the 4th quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company's stock valued at $11,133,000 after buying an additional 886,539 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Pagaya Technologies by 359.6% in the fourth quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock valued at $7,675,000 after buying an additional 646,357 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Pagaya Technologies by 310.6% in the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company's stock valued at $5,810,000 after buying an additional 473,063 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Pagaya Technologies by 446.1% during the first quarter. Bank of New York Mellon Corp now owns 482,018 shares of the company's stock worth $5,052,000 after buying an additional 393,752 shares during the last quarter. Institutional investors own 57.14% of the company's stock.
Insider Buying and Selling at Pagaya Technologies
In other news, CTO Avital Pardo sold 54,254 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $20.24, for a total value of $1,098,100.96. Following the completion of the sale, the chief technology officer owned 1,042,950 shares of the company's stock, valued at approximately $21,109,308. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Evangelos Perros sold 12,755 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $22.57, for a total transaction of $287,880.35. Following the transaction, the chief financial officer directly owned 82,870 shares in the company, valued at approximately $1,870,375.90. This represents a 13.34% 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 worth $24,585,322 in the last 90 days. Company insiders own 47.59% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on PGY shares. Wall Street Zen upgraded shares of Pagaya Technologies from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Citigroup upped their target price on shares of Pagaya Technologies from $16.50 to $40.00 and gave the company a "buy" rating in a report on Monday. Oppenheimer lifted their price target on Pagaya Technologies from $16.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price objective on Pagaya Technologies from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Stephens started coverage on Pagaya Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $26.70.
Check Out Our Latest Report on PGY
Pagaya Technologies Stock Performance
Shares of Pagaya Technologies stock traded down $1.44 on Thursday, hitting $32.20. The stock had a trading volume of 2,863,931 shares, compared to its average volume of 3,357,232. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -6.35 and a beta of 5.93. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $34.29. The business's 50 day moving average is $20.49 and its two-hundred day moving average is $14.32.
About Pagaya Technologies
(
Free Report)
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.
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