Invesco Ltd. Acquires 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 institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC acquired a new position in shares of Pagaya Technologies in the 4th quarter worth approximately $595,000. Hsbc Holdings PLC acquired a new stake in Pagaya Technologies in the 4th quarter valued at $172,000. Voya Investment Management LLC grew its position in Pagaya Technologies by 62.3% in the fourth quarter. Voya Investment Management LLC now owns 23,729 shares of the company's stock valued at $220,000 after acquiring an additional 9,108 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Pagaya Technologies by 50.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 28,754 shares of the company's stock worth $267,000 after acquiring an additional 9,638 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Pagaya Technologies by 1,249.2% during the fourth quarter. BNP Paribas Financial Markets now owns 131,637 shares of the company's stock valued at $1,223,000 after acquiring an additional 121,880 shares during the period. 57.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PGY has been the topic of several analyst reports. Benchmark upped their target price on shares of Pagaya Technologies from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, August 8th. JMP Securities boosted their price target on shares of Pagaya Technologies from $26.00 to $35.00 and gave the company a "market outperform" rating in a research report on Monday, August 11th. Stephens initiated coverage on shares of Pagaya Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $22.00 price objective on the stock. B. Riley lifted their target price on shares of Pagaya Technologies from $46.00 to $54.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Finally, Wall Street Zen downgraded Pagaya Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.33.

Insider Buying and Selling at Pagaya Technologies

In related news, CTO Avital Pardo sold 54,254 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief technology officer owned 1,042,950 shares in the company, valued at $21,109,308. The trade was a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Evangelos Perros sold 14,356 shares of the company's stock in a transaction 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 transaction, the chief financial officer directly owned 59,079 shares in the company, valued at approximately $2,206,009.86. This represents a 19.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 856,750 shares of company stock valued at $17,492,998 over the last three months. Insiders own 47.59% of the company's stock.

Pagaya Technologies Price Performance

PGY traded down $0.81 during midday trading on Wednesday, hitting $36.91. The company had a trading volume of 3,214,232 shares, compared to its average volume of 3,364,236. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $41.48. The company has a market capitalization of $2.83 billion, a PE ratio of -9.64 and a beta of 5.96. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.42 and a current ratio of 1.42. The firm's 50-day simple moving average is $30.94 and its 200-day simple moving average is $19.54.

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.