Voloridge Investment Management LLC Increases Stake in Pagaya Technologies Ltd. (NASDAQ:PGY)

Voloridge Investment Management LLC increased its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 200.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,978 shares of the company's stock after acquiring an additional 100,127 shares during the quarter. Voloridge Investment Management LLC owned about 0.20% of Pagaya Technologies worth $1,393,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $57,000. R Squared Ltd acquired a new position in Pagaya Technologies during the 4th quarter worth approximately $30,000. Entropy Technologies LP acquired a new position in Pagaya Technologies during the 4th quarter worth approximately $114,000. Rhumbline Advisers grew its holdings in Pagaya Technologies by 14.7% during the 4th quarter. Rhumbline Advisers now owns 75,620 shares of the company's stock worth $703,000 after acquiring an additional 9,674 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in Pagaya Technologies by 80.7% during the 4th quarter. IFP Advisors Inc now owns 13,265 shares of the company's stock worth $123,000 after acquiring an additional 5,925 shares in the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PGY has been the subject of several analyst reports. Benchmark reiterated a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. Citigroup upgraded shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and upped their target price for the company from $13.00 to $14.50 in a report on Friday, February 7th. JMP Securities upped their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Canaccord Genuity Group restated a "buy" rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Thursday, February 13th. Finally, B. Riley restated a "buy" rating and issued a $36.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Pagaya Technologies has an average rating of "Moderate Buy" and a consensus target price of $20.61.

Pagaya Technologies Stock Performance

NASDAQ:PGY traded down $0.62 during trading hours on Friday, reaching $16.51. 3,159,351 shares of the company's stock were exchanged, compared to its average volume of 1,907,318. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -3.00 and a beta of 5.88. The company has a 50-day moving average of $12.01 and a 200 day moving average of $11.06. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a 1-year low of $8.20 and a 1-year high of $19.20.

Insider Buying and Selling

In other Pagaya Technologies news, President Sanjiv Das sold 12,789 shares of the company's stock in a transaction 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 completion of the transaction, the president now owns 105,817 shares in the company, valued at approximately $989,388.95. This represents a 10.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Avital Pardo sold 237,748 shares of the company's stock in a transaction on 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 transaction, the chief technology officer now owns 2,401,528 shares of the company's stock, valued at approximately $36,407,164.48. The trade was a 9.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 488,541 shares of company stock worth $7,331,977 in the last 90 days. Company 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.