GSA Capital Partners LLP raised its position in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 252.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,605 shares of the company's stock after purchasing an additional 36,974 shares during the quarter. GSA Capital Partners LLP owned 0.07% of Pagaya Technologies worth $541,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Pagaya Technologies by 5,431.3% in the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock worth $46,000 after purchasing an additional 4,345 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Pagaya Technologies in the 4th quarter worth about $67,000. Jefferies Financial Group Inc. purchased a new stake in Pagaya Technologies in the 4th quarter worth about $93,000. ProShare Advisors LLC purchased a new stake in Pagaya Technologies in the 4th quarter worth about $94,000. Finally, Malaga Cove Capital LLC purchased a new stake in Pagaya Technologies in the 4th quarter worth about $96,000. 57.14% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on PGY. Citigroup increased their price objective on shares of Pagaya Technologies from $16.50 to $40.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Benchmark increased their price objective on shares of Pagaya Technologies from $25.00 to $42.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. JMP Securities reaffirmed a "market outperform" rating and set a $26.00 target price on shares of Pagaya Technologies in a research report on Tuesday, June 24th. Keefe, Bruyette & Woods raised their target price on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Oppenheimer raised their target price on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Pagaya Technologies currently has an average rating of "Moderate Buy" and an average price target of $26.70.
Check Out Our Latest Research Report on PGY
Insider Buying and Selling at Pagaya Technologies
In other news, CTO Avital Pardo sold 239,989 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $4,715,783.85. Following the transaction, the chief technology officer directly owned 802,961 shares in the company, valued at approximately $15,778,183.65. This trade represents a 23.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Sanjiv Das sold 31,382 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $17.15, for a total transaction of $538,201.30. Following the transaction, the president owned 74,435 shares in the company, valued at approximately $1,276,560.25. This represents a 29.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,353,907 shares of company stock valued at $24,585,322 in the last ninety days. Company insiders own 47.59% of the company's stock.
Pagaya Technologies Price Performance
NASDAQ PGY opened at $32.21 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.79 and a current ratio of 1.79. The firm's 50 day moving average price is $22.33 and its 200-day moving average price is $15.29. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $34.29. The company has a market cap of $2.44 billion, a PE ratio of -6.35 and a beta of 5.95.
Pagaya Technologies Profile
(
Free Report)
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.
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