Clal Insurance Enterprises Holdings Ltd Has $12.73 Million Stake in Pagaya Technologies Ltd. (NASDAQ:PGY)

Key Points

• Clal Insurance Enterprises Holdings Ltd reduced its stake in Pagaya Technologies by 14.1%, selling 200,000 shares and holding 1,214,349 shares valued at approximately $12.7 million.
• Institutional investors currently own 57.14% of Pagaya Technologies, with notable movements including GAMMA Investing LLC increasing its holdings by 5,431.3%.
• Analysts have raised their price targets for Pagaya Technologies, with a consensus rating of "Moderate Buy" and an average target price of $32.20.

Clal Insurance Enterprises Holdings Ltd decreased its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,214,349 shares of the company's stock after selling 200,000 shares during the quarter. Clal Insurance Enterprises Holdings Ltd owned 1.61% of Pagaya Technologies worth $12,726,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. American Century Companies Inc. acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at $382,000. JPMorgan Chase & Co. lifted its holdings 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 during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at $312,000. Federated Hermes Inc. lifted its holdings in shares of Pagaya Technologies by 9.1% in the fourth quarter. Federated Hermes Inc. now owns 167,885 shares of the company's stock valued at $1,560,000 after buying an additional 14,072 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Pagaya Technologies by 1.8% in the fourth quarter. Invesco Ltd. now owns 48,030 shares of the company's stock valued at $446,000 after buying an additional 864 shares during the period. Institutional investors own 57.14% of the company's stock.

Pagaya Technologies Stock Down 0.7%

Shares of PGY traded down $0.22 during midday trading on Friday, reaching $33.30. 3,288,754 shares of the stock were exchanged, compared to its average volume of 4,178,748. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $41.48. The firm has a 50 day simple moving average of $25.27 and a 200-day simple moving average of $16.75. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -8.69 and a beta of 5.95.

Analyst Ratings Changes

PGY has been the subject of several research analyst reports. B. Riley upped their price objective on Pagaya Technologies from $46.00 to $54.00 and gave the company a "buy" rating in a report on Monday, August 11th. Canaccord Genuity Group upped their target price on Pagaya Technologies from $28.00 to $36.00 and gave the company a "buy" rating in a report on Monday, August 11th. Benchmark upped their target price on Pagaya Technologies from $42.00 to $48.00 and gave the company a "buy" rating in a report on Friday, August 8th. Keefe, Bruyette & Woods upped their target price on Pagaya Technologies from $27.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Stephens initiated coverage on Pagaya Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Pagaya Technologies has an average rating of "Buy" and a consensus target price of $34.33.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, CTO Avital Pardo sold 54,254 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $20.24, for a total value of $1,098,100.96. Following the sale, the chief technology officer owned 1,042,950 shares of the company's stock, valued at $21,109,308. This trade represents a 4.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Evangelos Perros sold 12,755 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $22.57, for a total value of $287,880.35. Following the completion of the sale, the chief financial officer owned 82,870 shares of the company's stock, valued at $1,870,375.90. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 878,155 shares of company stock worth $17,372,922. 47.59% of the stock is currently owned by corporate insiders.

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.