Cwm LLC Raises Stock Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

CWM LLC lifted its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 79,828.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,190 shares of the company's stock after buying an additional 11,176 shares during the quarter. CWM LLC's holdings in Pagaya Technologies were worth $117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Pagaya Technologies by 1.8% during the fourth 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 raised its position in shares of 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 buying an additional 1,094 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Pagaya Technologies by 15.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock valued at $101,000 after acquiring an additional 1,532 shares during the last quarter. California State Teachers Retirement System increased its stake in Pagaya Technologies by 5.4% during the fourth quarter. California State Teachers Retirement System now owns 35,771 shares of the company's stock worth $332,000 after acquiring an additional 1,848 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Pagaya Technologies by 21.0% during the fourth 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 during the period. Institutional investors own 57.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PGY. Citigroup boosted their target price on Pagaya Technologies from $16.50 to $40.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Benchmark raised their target price on shares of Pagaya Technologies from $25.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, July 18th. JMP Securities reissued a "market outperform" rating and issued a $26.00 price objective on shares of Pagaya Technologies in a research report on Tuesday, June 24th. Stephens started coverage on Pagaya Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $22.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their target price on Pagaya Technologies from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.70.

Pagaya Technologies Trading Down 3.1%

NASDAQ:PGY traded down $0.93 during midday trading on Friday, hitting $29.12. The stock had a trading volume of 2,613,972 shares, compared to its average volume of 3,126,175. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $34.29. The stock has a 50-day moving average of $22.33 and a 200 day moving average of $15.20. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -5.74 and a beta of 5.95. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling at Pagaya Technologies

In other news, CTO Avital Pardo sold 239,989 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $4,715,783.85. Following the completion of the sale, the chief technology officer owned 802,961 shares of the company's stock, valued at approximately $15,778,183.65. This represents a 23.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tami Rosen sold 14,645 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $22.57, for a total transaction 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. Over the last quarter, insiders sold 1,353,907 shares of company stock worth $24,585,322. Company insiders own 47.59% of the company's stock.

Pagaya Technologies 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.