Hsbc Holdings PLC Has $1.17 Million Stock Holdings in Pagaya Technologies Ltd. $PGY

Key Points

• Hsbc Holdings PLC increased its Pagaya Technologies stake by 231.7% in the first quarter, holding 100,863 shares valued at approximately $1.17 million. Institutional investors collectively own 57.14% of PGY.
• Analyst sentiment remains broadly positive: Pagaya has an average “Buy” rating and a consensus price target of $35.86, despite some rating changes to “Hold.”
• PGY opened at $16.61, well below its 52-week high of $44.99. Recent insider activity included a CEO purchase of 16,230 shares, while the chief accounting officer sold shares to cover tax obligations.

Hsbc Holdings PLC boosted its position in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 231.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 100,863 shares of the company's stock after purchasing an additional 70,451 shares during the period. Hsbc Holdings PLC owned about 0.12% of Pagaya Technologies worth $1,169,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PGY. Root Financial Partners LLC acquired a new position in Pagaya Technologies during the fourth quarter worth approximately $27,000. Aster Capital Management DIFC Ltd lifted its position in shares of Pagaya Technologies by 351.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company's stock valued at $29,000 after buying an additional 1,084 shares during the last quarter. Transamerica Financial Advisors LLC acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at approximately $30,000. Quarry LP lifted its position in shares of Pagaya Technologies by 330.8% in the fourth quarter. Quarry LP now owns 1,663 shares of the company's stock valued at $35,000 after buying an additional 1,277 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $52,000. Institutional investors own 57.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PGY shares. Zacks Research lowered Pagaya Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings raised shares of Pagaya Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 18th. Texas Capital upgraded shares of Pagaya Technologies to a "strong-buy" rating in a report on Wednesday, June 10th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Pagaya Technologies currently has an average rating of "Buy" and a consensus target price of $35.86.

Insider Activity at Pagaya Technologies

In other news, CAO Cory Vieira sold 2,140 shares of Pagaya Technologies stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total value of $32,121.40. Following the completion of the sale, the chief accounting officer directly owned 18,179 shares in the company, valued at approximately $272,866.79. The trade was a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gal Krubiner purchased 16,230 shares of Pagaya Technologies stock in a transaction that occurred on Wednesday, June 24th. The shares were bought at an average cost of $15.43 per share, for a total transaction of $250,428.90. Following the transaction, the chief executive officer directly owned 555,906 shares of the company's stock, valued at $8,577,629.58. This represents a 3.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 58,090 shares of company stock valued at $923,764. 41.99% of the stock is currently owned by company insiders.

Pagaya Technologies Trading Down 2.1%

PGY stock opened at $16.61 on Wednesday. Pagaya Technologies Ltd. has a 52 week low of $10.40 and a 52 week high of $44.99. The company has a market capitalization of $1.38 billion, a PE ratio of 15.52 and a beta of 5.32. The company's 50-day simple moving average is $15.96 and its 200 day simple moving average is $15.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. The business had revenue of $91.63 million during the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%. As a group, sell-side analysts anticipate that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.

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