Resolute Capital Asset Partners LLC Purchases Shares of 75,000 Pagaya Technologies Ltd. $PGY

Key Points

• Resolute Capital Asset Partners LLC has invested approximately $786,000 in Pagaya Technologies Ltd., acquiring 75,000 shares, marking 0.10% ownership as per the latest SEC filing.
• Insider sales included significant transactions by Yahav Yulzari and Avital Pardo, who sold 241,160 and 239,989 shares respectively, reducing their ownership by 5.90% and 23.01%.
• Analysts have increased their price targets for Pagaya Technologies, with most giving a consensus rating of "Moderate Buy" and a target price averaging around $34.33.

Resolute Capital Asset Partners LLC bought a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 75,000 shares of the company's stock, valued at approximately $786,000. Resolute Capital Asset Partners LLC owned approximately 0.10% of Pagaya Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC bought a new position in shares of Pagaya Technologies in the 4th quarter worth about $28,070,000. Point72 Asset Management L.P. increased its stake in shares of Pagaya Technologies by 284.3% in the 4th quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company's stock worth $11,133,000 after acquiring an additional 886,539 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Pagaya Technologies by 359.6% in the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock worth $7,675,000 after acquiring an additional 646,357 shares in the last quarter. Nuveen LLC bought a new position in shares of Pagaya Technologies in the 1st quarter worth about $6,465,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Pagaya Technologies by 446.1% in the 1st quarter. Bank of New York Mellon Corp now owns 482,018 shares of the company's stock worth $5,052,000 after acquiring an additional 393,752 shares in the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Stock Performance

Shares of PGY traded up $2.57 on Thursday, reaching $37.28. The company's stock had a trading volume of 3,523,121 shares, compared to its average volume of 2,679,798. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $2.86 billion, a P/E ratio of -9.71 and a beta of 5.95. The stock's 50 day simple moving average is $27.60 and its two-hundred day simple moving average is $18.00. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $41.48.

Insider Buying and Selling at Pagaya Technologies

In related news, President Sanjiv Das sold 31,382 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $17.15, for a total value of $538,201.30. Following the transaction, the president owned 74,435 shares of the company's stock, valued at approximately $1,276,560.25. This trade represents a 29.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Avital Pardo sold 239,989 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $19.65, for a total transaction of $4,715,783.85. Following the completion of the transaction, the chief technology officer directly owned 802,961 shares in the company, valued at approximately $15,778,183.65. The trade was a 23.01% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 878,155 shares of company stock worth $17,372,922. 47.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PGY. Stephens began coverage on shares of Pagaya Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $22.00 price objective for the company. Wall Street Zen upgraded shares of Pagaya Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. Citigroup raised their price objective on shares of Pagaya Technologies from $16.50 to $40.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Oppenheimer raised their price objective on shares of Pagaya Technologies from $16.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods raised their price objective 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. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $34.33.

Pagaya Technologies 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.