Millennium Management LLC lowered its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 19.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,469 shares of the company's stock after selling 70,994 shares during the period. Millennium Management LLC owned about 0.41% of Pagaya Technologies worth $2,791,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new stake in Pagaya Technologies in the 4th quarter valued at about $93,000. Frontier Capital Management Co. LLC bought a new stake in Pagaya Technologies in the 4th quarter valued at about $28,070,000. Corton Capital Inc. lifted its position in Pagaya Technologies by 346.0% in the 4th quarter. Corton Capital Inc. now owns 45,186 shares of the company's stock valued at $420,000 after purchasing an additional 35,054 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Pagaya Technologies in the 4th quarter valued at about $206,000. Finally, Bank of America Corp DE lifted its position in Pagaya Technologies by 9.7% in the 4th quarter. Bank of America Corp DE now owns 144,097 shares of the company's stock valued at $1,339,000 after purchasing an additional 12,760 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, insider Yahav Yulzari sold 238,004 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.16, for a total transaction of $3,608,140.64. Following the sale, the insider now owns 4,346,141 shares in the company, valued at $65,887,497.56. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Avital Pardo sold 237,748 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the sale, the chief technology officer now owns 2,401,528 shares in the company, valued at $36,407,164.48. This represents a 9.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 488,541 shares of company stock worth $7,331,977 in the last ninety days. 47.59% of the stock is currently owned by corporate insiders.
Pagaya Technologies Price Performance
Shares of NASDAQ PGY traded up $0.28 during midday trading on Monday, reaching $16.72. The company's stock had a trading volume of 1,397,768 shares, compared to its average volume of 1,908,615. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average price of $12.01 and a 200 day moving average price of $11.08. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $19.20. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -3.04 and a beta of 5.88.
Analyst Ratings Changes
A number of analysts have commented on PGY shares. Canaccord Genuity Group restated a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 13th. JMP Securities boosted their price target on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Citigroup upgraded shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. B. Riley restated a "buy" rating and set a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, Benchmark restated a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Pagaya Technologies has an average rating of "Moderate Buy" and an average target price of $20.61.
Read Our Latest Research Report on PGY
Pagaya Technologies Company Profile
(
Free Report)
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.
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