Two Sigma Investments LP Boosts Stake in Pagaya Technologies Ltd. (NASDAQ:PGY)

Two Sigma Investments LP raised its stake in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 359.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 826,119 shares of the company's stock after buying an additional 646,357 shares during the period. Two Sigma Investments LP owned about 1.12% of Pagaya Technologies worth $7,675,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Pagaya Technologies during the 4th quarter valued at $30,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Pagaya Technologies during the 4th quarter worth approximately $43,000. Nisa Investment Advisors LLC bought a new position in Pagaya Technologies in the fourth quarter worth approximately $57,000. KLP Kapitalforvaltning AS acquired a new stake in Pagaya Technologies in the fourth quarter valued at approximately $67,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Pagaya Technologies during the fourth quarter valued at approximately $93,000. Institutional investors and hedge funds own 57.14% of the company's stock.

Pagaya Technologies Stock Performance

NASDAQ:PGY traded down $0.42 during trading hours on Friday, reaching $16.71. The stock had a trading volume of 593,667 shares, compared to its average volume of 1,891,834. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $19.20. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a 50 day simple moving average of $11.93 and a 200 day simple moving average of $11.02. The stock has a market cap of $1.27 billion, a P/E ratio of -3.05 and a beta of 5.88.

Insider Activity at Pagaya Technologies

In other news, CTO Avital Pardo sold 237,748 shares of the company's stock in a transaction dated Monday, May 12th. The stock was 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 directly owns 2,401,528 shares in the company, valued at $36,407,164.48. This represents a 9.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total transaction of $119,577.15. Following the transaction, the president now directly owns 105,817 shares of the company's stock, valued at approximately $989,388.95. This represents a 10.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 488,541 shares of company stock worth $7,331,977. Company insiders own 47.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. B. Riley reaffirmed a "buy" rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Citigroup upgraded Pagaya Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. Benchmark reaffirmed a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, JMP Securities lifted their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.61.

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.