Quantbot Technologies LP Buys 117,281 Shares of Pagaya Technologies Ltd. $PGY

Key Points

• Quantbot Technologies LP increased its stake in Pagaya Technologies Ltd. by 130.6% during Q1, acquiring an additional 117,281 shares for a total ownership of 207,077 shares valued at $2.17 million.
• Several institutional investors, including American Century Companies Inc. and Nuveen LLC, also significantly increased their holdings in Pagaya Technologies, indicating strong institutional interest in the stock.
• Wall Street analysts have a generally positive outlook on Pagaya Technologies, with multiple firms raising their price targets and eight analysts rating the stock as a Buy.

Quantbot Technologies LP increased its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 130.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,077 shares of the company's stock after buying an additional 117,281 shares during the period. Quantbot Technologies LP owned about 0.28% of Pagaya Technologies worth $2,170,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of 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 in the 4th quarter valued at approximately $93,000. ProShare Advisors LLC acquired a new stake in Pagaya Technologies in the 4th quarter valued at approximately $94,000. Summit Securities Group LLC acquired a new stake in shares of Pagaya Technologies in the 1st quarter worth approximately $107,000. Finally, Malaga Cove Capital LLC acquired a new stake in shares of Pagaya Technologies in the 4th quarter worth approximately $96,000. Institutional investors own 57.14% of the company's stock.

Pagaya Technologies Stock Performance

Shares of Pagaya Technologies stock traded down $0.85 during trading on Wednesday, reaching $33.63. The company's stock had a trading volume of 644,400 shares, compared to its average volume of 2,660,131. 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 business's fifty day moving average price is $27.28 and its 200-day moving average price is $17.88. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -8.77 and a beta of 5.95. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $41.48.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 13,821 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $21.85, for a total transaction of $301,988.85. Following the completion of the sale, the insider directly owned 35,619 shares of the company's stock, valued at $778,275.15. The trade was a 27.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Sanjiv Das sold 12,742 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $25.95, for a total transaction of $330,654.90. Following the sale, the president directly owned 98,562 shares of the company's stock, valued at approximately $2,557,683.90. This trade represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 878,155 shares of company stock valued at $17,372,922. Corporate insiders own 47.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PGY. Wall Street Zen raised shares of Pagaya Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. JMP Securities upped their price target on shares of Pagaya Technologies from $26.00 to $35.00 and gave the stock a "market outperform" rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods increased their target price on shares of Pagaya Technologies from $27.00 to $38.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Benchmark raised their price objective on Pagaya Technologies from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Stephens started coverage on Pagaya Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $22.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.33.

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.