Squarepoint Ops LLC Acquires 216,770 Shares of Pagaya Technologies Ltd. $PGY

Key Points

• Squarepoint Ops LLC increased its Pagaya Technologies stake by 614.7% in the second quarter, acquiring 216,770 shares to own 252,036 shares worth approximately $4.6 million, or 0.30% of the company.
• Pagaya shares opened at $19.97, with a market capitalization of $1.67 billion and a 52-week range of $10.40 to $44.99. Institutional investors hold 57.14% of the stock.
• Analysts maintain a broadly positive outlook, giving Pagaya an average “Buy” rating and a $31.25 price target, while insiders have sold 76,137 shares worth $1.51 million over the past 90 days.

Squarepoint Ops LLC increased its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 614.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,036 shares of the company's stock after acquiring an additional 216,770 shares during the period. Squarepoint Ops LLC owned about 0.30% of Pagaya Technologies worth $4,600,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd raised its stake in shares of Pagaya Technologies by 351.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company's stock worth $29,000 after purchasing an additional 1,084 shares during the last quarter. Transamerica Financial Advisors LLC bought a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $30,000. Quarry LP lifted its holdings in shares of Pagaya Technologies by 330.8% in the fourth quarter. Quarry LP now owns 1,663 shares of the company's stock valued at $35,000 after purchasing an additional 1,277 shares in the last quarter. Finally, First Bancorp Inc ME bought a new position in shares of Pagaya Technologies in the second quarter valued at approximately $36,000. Institutional investors own 57.14% of the company's stock.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY opened at $19.97 on Friday. The company has a market capitalization of $1.67 billion, a P/E ratio of 14.68 and a beta of 5.35. The company's 50-day moving average is $19.93 and its 200 day moving average is $15.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 11.08 and a current ratio of 11.08. Pagaya Technologies Ltd. has a fifty-two week low of $10.40 and a fifty-two week high of $44.99.

Insiders Place Their Bets

In other Pagaya Technologies news, President Sanjiv Das sold 21,289 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $22.00, for a total value of $468,358.00. Following the transaction, the president directly owned 144,186 shares in the company, valued at $3,172,092. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tami Rosen sold 1,265 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $23.07, for a total transaction of $29,183.55. Following the completion of the transaction, the director owned 15,400 shares in the company, valued at approximately $355,278. The trade was a 7.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 76,137 shares of company stock valued at $1,512,809. Company insiders own 41.99% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PGY. Weiss Ratings upgraded Pagaya Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 18th. Citizens Jmp raised their price objective on Pagaya Technologies from $22.00 to $25.00 and gave the company a "market outperform" rating in a research note on Friday, July 31st. Texas Capital raised shares of Pagaya Technologies to a "strong-buy" rating in a report on Wednesday, June 10th. Jefferies Financial Group upped their target price on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, August 18th. Finally, Zacks Research upgraded shares of Pagaya Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $31.25.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.

Want to see what other hedge funds are holding PGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.