31,239 Shares in Pagaya Technologies Ltd. $PGY Bought by Ieq Capital LLC

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 bought 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 13F filing with the Securities and Exchange Commission. The firm bought 31,239 shares of the company's stock, valued at approximately $327,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PGY. Virtus Advisers LLC bought a new stake in shares of Pagaya Technologies during the first quarter valued at approximately $35,000. GAMMA Investing LLC boosted its stake in Pagaya Technologies by 5,431.3% during the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock worth $46,000 after buying an additional 4,345 shares during the period. Jefferies Financial Group Inc. purchased a new position in Pagaya Technologies during the fourth quarter worth $93,000. ProShare Advisors LLC purchased a new stake in shares of Pagaya Technologies during the fourth quarter valued at $94,000. Finally, Malaga Cove Capital LLC purchased a new stake in shares of Pagaya Technologies during the fourth quarter valued at $96,000. Institutional investors own 57.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PGY shares. Wall Street Zen lowered shares of Pagaya Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. Oppenheimer boosted their target price on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Citigroup boosted their target price on shares of Pagaya Technologies from $16.50 to $40.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Canaccord Genuity Group upped their price objective on shares of Pagaya Technologies from $28.00 to $36.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, Stephens started coverage on shares of Pagaya Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $22.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.33.

Pagaya Technologies Stock Up 1.4%

Shares of NASDAQ PGY traded up $0.51 during mid-day trading on Tuesday, reaching $37.72. The company had a trading volume of 2,553,216 shares, compared to its average volume of 2,705,314. The firm has a 50 day simple moving average of $30.34 and a two-hundred day simple moving average of $19.29. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $41.48. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85. The stock has a market cap of $2.89 billion, a P/E ratio of -9.85 and a beta of 5.96.

Insiders Place Their Bets

In other news, Director Dan Petrozzo sold 8,484 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $30.15, for a total transaction of $255,792.60. Following the transaction, the director directly owned 96,278 shares in the company, valued at approximately $2,902,781.70. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Evangelos Perros sold 14,356 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $37.34, for a total transaction of $536,053.04. Following the transaction, the chief financial officer owned 59,079 shares in the company, valued at approximately $2,206,009.86. This trade represents a 19.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 856,750 shares of company stock worth $17,492,998. Corporate insiders own 47.59% of the company's stock.

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.