Cubist Systematic Strategies LLC Makes New Investment in Pagaya Technologies Ltd. (NASDAQ:PGY)

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in PGY. R Squared Ltd purchased a new stake in Pagaya Technologies during the 4th quarter valued at approximately $30,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Pagaya Technologies during the 4th quarter valued at approximately $43,000. Nisa Investment Advisors LLC bought a new stake in Pagaya Technologies in the fourth quarter worth $57,000. KLP Kapitalforvaltning AS bought a new stake in Pagaya Technologies in the fourth quarter worth $67,000. Finally, CIBC Private Wealth Group LLC lifted its position in Pagaya Technologies by 15.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock worth $101,000 after buying an additional 1,532 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company's stock.

Pagaya Technologies Stock Performance

NASDAQ:PGY traded up $0.45 during trading hours on Friday, reaching $15.72. The company had a trading volume of 1,408,692 shares, compared to its average volume of 1,884,163. Pagaya Technologies Ltd. has a 1-year low of $8.20 and a 1-year high of $19.20. The firm has a market cap of $1.19 billion, a PE ratio of -2.86 and a beta of 5.88. The business's 50 day moving average price is $11.52 and its 200-day moving average price is $10.94. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Insider Buying and Selling at Pagaya Technologies

In other news, CTO Avital Pardo sold 237,748 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,604,259.68. Following the completion of the sale, the chief technology officer now directly owns 2,401,528 shares in the company, valued at $36,407,164.48. The trade was a 9.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction that occurred 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 sale, the president now owns 105,817 shares of the company's stock, valued at $989,388.95. The trade was a 10.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 488,541 shares of company stock valued at $7,331,977. 47.59% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PGY shares. Citigroup upgraded Pagaya Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Canaccord Genuity Group restated a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 13th. B. Riley restated a "buy" rating and issued a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. JMP Securities raised their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Finally, Benchmark restated a "buy" rating and issued a $25.00 price target 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 issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.61.

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.