Alpine Global Management LLC cut its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 50.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 285,000 shares of the company's stock after selling 285,000 shares during the period. Alpine Global Management LLC owned 0.39% of Pagaya Technologies worth $2,648,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Pagaya Technologies during the 4th quarter valued at $30,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Pagaya Technologies during the 4th quarter valued at $43,000. Nisa Investment Advisors LLC purchased a new stake in shares of Pagaya Technologies during the 4th quarter valued at $57,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Pagaya Technologies during the 4th quarter valued at $67,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Pagaya Technologies during the 4th quarter valued at $93,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Pagaya Technologies news, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the transaction, the president now owns 105,817 shares in the company, valued at $989,388.95. The trade was a 10.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Avital Pardo sold 237,748 shares of the business'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 completion of the transaction, 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. In the last three months, insiders sold 488,541 shares of company stock valued at $7,331,977. Company insiders own 47.59% of the company's stock.
Pagaya Technologies Stock Up 8.7%
Shares of Pagaya Technologies stock opened at $15.27 on Friday. The company has a fifty day moving average price of $11.43 and a 200 day moving average price of $10.92. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $19.20. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -2.78 and a beta of 5.88.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. JMP Securities boosted their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Citigroup raised shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $13.00 to $14.50 in a research note on Friday, February 7th. B. Riley reissued a "buy" rating and set a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Canaccord Genuity Group reissued a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. Finally, Benchmark reissued a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note 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.com, Pagaya Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.61.
Read Our Latest Stock Report on Pagaya Technologies
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.
See Also
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