PDT Partners LLC Grows Stake in Pagaya Technologies Ltd. $PGY

Key Points

• PDT Partners LLC increased its stake in Pagaya Technologies by 506.2% during the 1st quarter, owning 218,168 shares valued at approximately $2.29 million.
• Multiple institutional investors have made significant investments in Pagaya Technologies, with 57.14% of the company's stock now held by such investors.
• Research analysts have given a positive outlook for Pagaya Technologies, with multiple firms raising their target prices and eight analysts rating the stock as a "Buy."

PDT Partners LLC raised its stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 506.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 218,168 shares of the company's stock after buying an additional 182,177 shares during the quarter. PDT Partners LLC owned about 0.29% of Pagaya Technologies worth $2,286,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Virtus Advisers LLC acquired a new stake in Pagaya Technologies during the 1st quarter valued at $35,000. GAMMA Investing LLC grew its holdings in Pagaya Technologies by 5,431.3% during the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock valued at $46,000 after buying an additional 4,345 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Pagaya Technologies during the 4th quarter valued at $93,000. ProShare Advisors LLC acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth $94,000. Finally, Malaga Cove Capital LLC acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth $96,000. Institutional investors and hedge funds own 57.14% of the company's stock.

Pagaya Technologies Trading Up 0.2%

Pagaya Technologies stock traded up $0.08 during midday trading on Friday, reaching $37.26. The stock had a trading volume of 3,435,516 shares, compared to its average volume of 3,685,752. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $41.48. The stock has a market capitalization of $2.85 billion, a PE ratio of -9.73 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 stock's 50-day simple moving average is $30.03 and its 200 day simple moving average is $19.10.

Insider Transactions at Pagaya Technologies

In related news, President Sanjiv Das sold 13,551 shares of Pagaya Technologies stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $17.90, for a total value of $242,562.90. Following the transaction, the president owned 84,634 shares in the company, valued at approximately $1,514,948.60. This trade represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Yahav Yulzari sold 241,160 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $4,738,794.00. Following the completion of the transaction, the insider directly owned 3,846,564 shares in the company, valued at $75,584,982.60. This trade represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 846,773 shares of company stock worth $16,834,721 over the last ninety days. 47.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wall Street Zen cut Pagaya Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. JMP Securities raised their price objective on Pagaya Technologies from $26.00 to $35.00 and gave the stock a "market outperform" rating in a report on Monday, August 11th. Keefe, Bruyette & Woods raised their price objective on Pagaya Technologies from $27.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Citigroup raised their price objective on Pagaya Technologies from $16.50 to $40.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Benchmark raised their price objective on Pagaya Technologies from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.33.

Pagaya Technologies Company Profile

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.