Ieq Capital LLC Purchases New Shares in Pagaya Technologies Ltd. $PGY

Key Points

• Ieq Capital LLC acquired 31,239 shares of Pagaya Technologies Ltd. worth approximately $327,000, signifying institutional interest in the company.
• Analysts have lifted their price targets for Pagaya Technologies, with Keefe, Bruyette & Woods setting a target of $38.00, reflecting strong confidence in the company's growth potential.
• Insider trading activity includes significant sales by CFO and CTO, with insiders having sold a total of 846,773 shares valued at approximately $16.83 million over the last 90 days, indicating potential profit-taking.

Ieq Capital LLC acquired a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 31,239 shares of the company's stock, valued at approximately $327,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PGY. Virtus Advisers LLC purchased a new stake in shares of Pagaya Technologies in the 1st quarter valued at about $35,000. GAMMA Investing LLC increased its position in shares of Pagaya Technologies by 5,431.3% during the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock valued at $46,000 after purchasing an additional 4,345 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Pagaya Technologies during the 4th quarter valued at about $93,000. ProShare Advisors LLC bought a new position in shares of Pagaya Technologies during the 4th quarter valued at about $94,000. Finally, Malaga Cove Capital LLC bought a new position in shares of Pagaya Technologies during the 4th quarter valued at about $96,000. Hedge funds and other institutional investors own 57.14% of the company's stock.

Pagaya Technologies Trading Up 3.3%

Shares of PGY stock traded up $1.22 during trading hours on Thursday, reaching $38.13. The company's stock had a trading volume of 2,980,220 shares, compared to its average volume of 3,240,969. The stock has a market capitalization of $2.92 billion, a P/E ratio of -9.96 and a beta of 5.96. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $41.48. The firm's fifty day simple moving average is $31.26 and its 200 day simple moving average is $19.71. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85.

Insider Transactions at Pagaya Technologies

In other news, insider Tami Rosen sold 13,821 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $21.85, for a total value of $301,988.85. Following the sale, the insider directly owned 35,619 shares in the company, valued at approximately $778,275.15. This trade represents a 27.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Evangelos Perros sold 14,356 shares of Pagaya Technologies stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $37.34, for a total value of $536,053.04. Following the completion of the sale, the chief financial officer owned 59,079 shares in the company, valued at approximately $2,206,009.86. This represents a 19.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 725,350 shares of company stock worth $15,028,360. Corporate insiders own 47.59% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Benchmark increased their price objective on Pagaya Technologies from $42.00 to $48.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Keefe, Bruyette & Woods increased their price objective on Pagaya Technologies from $27.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Citigroup increased their price objective on Pagaya Technologies from $16.50 to $40.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Stephens began coverage on Pagaya Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $22.00 price target on the stock. Finally, Canaccord Genuity Group raised their price target on Pagaya Technologies from $28.00 to $36.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Pagaya Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $34.33.

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.