Bank of New York Mellon Corp Purchases 393,752 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Bank of New York Mellon Corp raised its position in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 446.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 482,018 shares of the company's stock after acquiring an additional 393,752 shares during the period. Bank of New York Mellon Corp owned about 0.64% of Pagaya Technologies worth $5,052,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PGY. Invesco Ltd. increased its holdings in Pagaya Technologies by 1.8% during the 4th quarter. Invesco Ltd. now owns 48,030 shares of the company's stock valued at $446,000 after purchasing an additional 864 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Pagaya Technologies by 9.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company's stock valued at $130,000 after purchasing an additional 1,094 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Pagaya Technologies by 15.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock valued at $101,000 after purchasing an additional 1,532 shares in the last quarter. California State Teachers Retirement System increased its holdings in Pagaya Technologies by 5.4% during the 4th quarter. California State Teachers Retirement System now owns 35,771 shares of the company's stock valued at $332,000 after purchasing an additional 1,848 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Pagaya Technologies by 21.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 22,828 shares of the company's stock valued at $212,000 after purchasing an additional 3,965 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Benchmark raised their price target on Pagaya Technologies from $25.00 to $42.00 and gave the company a "buy" rating in a report on Friday, July 18th. Stephens assumed coverage on Pagaya Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $22.00 target price for the company. Wall Street Zen raised Pagaya Technologies from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Oppenheimer lifted their target price on Pagaya Technologies from $16.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, JMP Securities reissued a "market outperform" rating and issued a $26.00 target price on shares of Pagaya Technologies in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $26.70.

Insiders Place Their Bets

In other Pagaya Technologies news, President Sanjiv Das sold 31,382 shares of Pagaya Technologies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.15, for a total transaction of $538,201.30. Following the transaction, the president directly owned 74,435 shares in the company, valued at approximately $1,276,560.25. The trade was a 29.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tami Rosen sold 14,645 shares of Pagaya Technologies stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $22.57, for a total value of $330,537.65. Following the transaction, the insider owned 49,440 shares in the company, valued at approximately $1,115,860.80. This represents a 22.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,353,907 shares of company stock valued at $24,585,322. Insiders own 47.59% of the company's stock.

Pagaya Technologies Trading Down 2.3%

PGY stock traded down $0.73 during midday trading on Friday, hitting $31.47. 3,185,106 shares of the company's stock were exchanged, compared to its average volume of 3,403,547. The stock's fifty day moving average price is $20.49 and its 200-day moving average price is $14.32. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $2.38 billion, a PE ratio of -6.21 and a beta of 5.93. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $34.29.

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.