Deutsche Bank AG Purchases New Holdings in Pagaya Technologies Ltd. $PGY

Key Points

• Deutsche Bank AG has acquired 66,022 shares of Pagaya Technologies Ltd. for approximately $692,000, representing about 0.09% of the company's stock.
• Several hedge funds, including Wealth Enhancement Advisory Services and BNP Paribas Financial Markets, have significantly increased their stakes in Pagaya Technologies in recent months.
• Analyst ratings for Pagaya Technologies have improved, with multiple firms raising their target prices and eight analysts giving the stock a "Buy" rating, reflecting a consensus rating of "Moderate Buy."

Deutsche Bank AG purchased a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 66,022 shares of the company's stock, valued at approximately $692,000. Deutsche Bank AG owned approximately 0.09% of Pagaya Technologies at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Pagaya Technologies by 9.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company's stock worth $130,000 after purchasing an additional 1,094 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Pagaya Technologies by 1,249.2% during the fourth quarter. BNP Paribas Financial Markets now owns 131,637 shares of the company's stock worth $1,223,000 after purchasing an additional 121,880 shares in the last quarter. Barclays PLC acquired a new position in shares of Pagaya Technologies during the fourth quarter worth $595,000. Bank of America Corp DE increased its position in shares of Pagaya Technologies by 9.7% in the 4th quarter. Bank of America Corp DE now owns 144,097 shares of the company's stock valued at $1,339,000 after acquiring an additional 12,760 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Pagaya Technologies by 5,431.3% in the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock valued at $46,000 after acquiring an additional 4,345 shares during the period. 57.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PGY shares. Stephens started coverage on Pagaya Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 target price on the stock. 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 research report on Friday, August 8th. B. Riley upped their target price on Pagaya Technologies from $46.00 to $54.00 and gave the company a "buy" rating in a research 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 research report on Monday, August 11th. Finally, JMP Securities upped their target price on Pagaya Technologies from $26.00 to $35.00 and gave the company a "market outperform" rating in a research report on Monday, August 11th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.33.

Insider Buying and Selling at Pagaya Technologies

In other news, CTO Avital Pardo sold 54,254 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $20.24, for a total transaction of $1,098,100.96. Following the sale, the chief technology officer directly owned 1,042,950 shares of the company's stock, valued at $21,109,308. This represents a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tami Rosen sold 13,821 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $21.85, for a total transaction of $301,988.85. Following the completion of the transaction, the insider directly owned 35,619 shares in the company, valued at $778,275.15. This represents a 27.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 878,155 shares of company stock worth $17,372,922. 47.59% of the stock is currently owned by company insiders.

Pagaya Technologies Price Performance

Shares of PGY stock traded up $3.01 during mid-day trading on Thursday, hitting $37.72. 6,362,398 shares of the stock were exchanged, compared to its average volume of 3,990,250. The firm has a fifty day moving average of $27.97 and a 200 day moving average of $18.17. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $41.48. The company has a market cap of $2.89 billion, a PE ratio of -9.85 and a beta of 5.95.

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.