Rhumbline Advisers Has $567,000 Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

Rhumbline Advisers cut its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 28.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,139 shares of the company's stock after selling 21,481 shares during the quarter. Rhumbline Advisers owned 0.07% of Pagaya Technologies worth $567,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Frontier Capital Management Co. LLC bought a new position in Pagaya Technologies in the fourth quarter valued at approximately $28,070,000. Point72 Asset Management L.P. grew its stake in Pagaya Technologies by 284.3% in the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company's stock valued at $11,133,000 after purchasing an additional 886,539 shares in the last quarter. Two Sigma Investments LP grew its stake in Pagaya Technologies by 359.6% in the fourth quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock valued at $7,675,000 after purchasing an additional 646,357 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Pagaya Technologies by 310.6% in the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company's stock valued at $5,810,000 after buying an additional 473,063 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at approximately $2,701,000. 57.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $26.00 price objective on shares of Pagaya Technologies in a research report on Tuesday. B. Riley reaffirmed a "buy" rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Stephens assumed coverage on Pagaya Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 price objective for the company. Finally, Benchmark reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Pagaya Technologies has a consensus rating of "Moderate Buy" and an average target price of $20.50.

Insider Buying and Selling at Pagaya Technologies

In related news, CFO Evangelos Perros sold 11,768 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $17.90, for a total transaction of $210,647.20. Following the sale, the chief financial officer now owns 72,859 shares in the company, valued at $1,304,176.10. The trade was a 13.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $3,604,259.68. Following the sale, 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. Insiders sold 1,299,465 shares of company stock valued at $23,090,070 in the last three months. Corporate insiders own 47.59% of the company's stock.

Pagaya Technologies Stock Performance

NASDAQ:PGY traded up $0.33 during mid-day trading on Thursday, hitting $19.51. 1,949,727 shares of the stock were exchanged, compared to its average volume of 1,990,181. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -3.85 and a beta of 5.93. The firm's 50-day simple moving average is $14.94 and its 200 day simple moving average is $12.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.79 and a current ratio of 1.79. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $20.60.

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.