Cubist Systematic Strategies LLC Invests $206,000 in Pagaya Technologies Ltd. (NASDAQ:PGY)

Cubist Systematic Strategies LLC bought a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,137 shares of the company's stock, valued at approximately $206,000.

Several other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Pagaya Technologies by 502.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company's stock valued at $1,610,000 after purchasing an additional 127,012 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in Pagaya Technologies during the fourth quarter worth $57,000. R Squared Ltd bought a new position in Pagaya Technologies during the fourth quarter valued at $30,000. Entropy Technologies LP purchased a new stake in shares of Pagaya Technologies in the fourth quarter valued at $114,000. Finally, Rhumbline Advisers lifted its holdings in shares of Pagaya Technologies by 14.7% in the 4th quarter. Rhumbline Advisers now owns 75,620 shares of the company's stock worth $703,000 after acquiring an additional 9,674 shares during the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, President Sanjiv Das sold 12,789 shares of Pagaya Technologies stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total value of $119,577.15. Following the transaction, the president now directly owns 105,817 shares in the company, valued at approximately $989,388.95. This trade represents a 10.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Yahav Yulzari sold 238,004 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,608,140.64. Following the completion of the transaction, the insider now directly owns 4,346,141 shares of the company's stock, valued at approximately $65,887,497.56. The trade was a 5.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 488,541 shares of company stock valued at $7,331,977 over the last three months. 47.59% of the stock is owned by company insiders.

Pagaya Technologies Trading Up 8.7%

NASDAQ:PGY traded up $1.22 during midday trading on Thursday, hitting $15.27. The stock had a trading volume of 1,793,929 shares, compared to its average volume of 1,873,932. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.78 and a beta of 5.88. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $19.20. The stock has a 50-day moving average of $11.35 and a 200 day moving average of $10.89.

Analysts Set New Price Targets

PGY has been the topic of several analyst reports. B. Riley reiterated a "buy" rating and set a $36.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. Citigroup upgraded Pagaya Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the company from $13.00 to $14.50 in a research report on Friday, February 7th. JMP Securities increased their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Canaccord Genuity Group restated a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. Finally, Benchmark reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.61.

About Pagaya Technologies

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.