Invesco Ltd. Purchases 9,845 Shares of Pagaya Technologies Ltd. $PGY

Key Points

• Invesco Ltd. has increased its holdings in Pagaya Technologies Ltd. by 20.5%, acquiring an additional 9,845 shares, bringing its total to 57,875 shares worth approximately $607,000.
• Several institutional investors have significantly increased their stakes in Pagaya Technologies, with GAMMA Investing LLC boosting its stake by an extraordinary 5,431.3% in the first quarter.
• Pagaya Technologies' stock price has fluctuated between a 52-week low of $8.20 and a high of $41.48, with analysts giving it a consensus target price of $34.33 and a "Moderate Buy" rating.

Invesco Ltd. boosted its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 20.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,875 shares of the company's stock after purchasing an additional 9,845 shares during the period. Invesco Ltd. owned about 0.08% of Pagaya Technologies worth $607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Pagaya Technologies by 5,431.3% in the first 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 last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at approximately $93,000. ProShare Advisors LLC acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at approximately $94,000. Malaga Cove Capital LLC acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at approximately $96,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at approximately $105,000. Institutional investors own 57.14% of the company's stock.

Pagaya Technologies Trading Up 0.2%

PGY traded up $0.08 during trading on Friday, reaching $37.26. 3,435,516 shares of the company's stock were exchanged, compared to its average volume of 3,685,752. The company's fifty day moving average price is $30.03 and its 200-day moving average price is $19.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.42 and a current ratio of 1.42. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $41.48. The firm has a market capitalization of $2.85 billion, a PE ratio of -9.73 and a beta of 5.96.

Wall Street Analyst Weigh In

PGY has been the subject of a number of research reports. Benchmark raised their price target on shares of Pagaya Technologies from $42.00 to $48.00 and gave the company a "buy" rating in a report on Friday, August 8th. Wall Street Zen lowered shares of Pagaya Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. Canaccord Genuity Group raised their price target 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. B. Riley raised their price target on shares of Pagaya Technologies from $46.00 to $54.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, Stephens initiated coverage on shares of Pagaya Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Pagaya Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.33.

Insider Activity

In other news, CTO Avital Pardo sold 54,254 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $20.24, for a total value 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 approximately $21,109,308. This represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tami Rosen sold 13,821 shares of the company'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 sale, the insider directly owned 35,619 shares in the company, valued at approximately $778,275.15. The trade was a 27.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 846,773 shares of company stock worth $16,834,721. 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.