Pagaya Technologies Ltd. (NASDAQ:PGY) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. increased its position in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 284.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,198,398 shares of the company's stock after acquiring an additional 886,539 shares during the period. Point72 Asset Management L.P. owned approximately 1.63% of Pagaya Technologies worth $11,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. ProShare Advisors LLC acquired a new stake in shares of Pagaya Technologies in the 4th quarter worth approximately $94,000. Malaga Cove Capital LLC acquired a new stake in Pagaya Technologies during the 4th quarter valued at $96,000. Jefferies Financial Group Inc. acquired a new stake in Pagaya Technologies during the 4th quarter valued at $93,000. Frontier Capital Management Co. LLC acquired a new stake in Pagaya Technologies during the 4th quarter valued at $28,070,000. Finally, Corton Capital Inc. grew its holdings in Pagaya Technologies by 346.0% during the 4th quarter. Corton Capital Inc. now owns 45,186 shares of the company's stock valued at $420,000 after buying an additional 35,054 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company's stock.

Pagaya Technologies Trading Up 2.9%

Shares of Pagaya Technologies stock traded up $0.45 during trading hours on Friday, reaching $15.72. 1,408,692 shares of the company's stock were exchanged, compared to its average volume of 1,884,163. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $19.20. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -2.86 and a beta of 5.88. The company has a fifty day moving average of $11.52 and a 200-day moving average of $10.94. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Benchmark reiterated a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. B. Riley reiterated a "buy" rating and set a $36.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. JMP Securities increased their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Citigroup raised Pagaya Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Two research 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 an average rating of "Moderate Buy" and a consensus target price of $20.61.

Insider Buying and Selling

In related news, CTO Avital Pardo sold 237,748 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,604,259.68. Following the transaction, the chief technology officer now directly owns 2,401,528 shares of the company's stock, valued at approximately $36,407,164.48. This trade represents a 9.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Sanjiv Das sold 12,789 shares of the stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total value of $119,577.15. Following the completion of the transaction, the president now directly owns 105,817 shares in the company, valued at $989,388.95. This trade represents a 10.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 488,541 shares of company stock valued at $7,331,977. 47.59% of the stock is currently owned by company insiders.

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.