Two Sigma Advisers LP Purchases 221,291 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Two Sigma Advisers LP grew its stake in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 1,942.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 232,682 shares of the company's stock after acquiring an additional 221,291 shares during the quarter. Two Sigma Advisers LP owned 0.32% of Pagaya Technologies worth $2,162,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Frontier Capital Management Co. LLC bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $28,070,000. Point72 Asset Management L.P. increased its stake in Pagaya Technologies by 284.3% during the 4th quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company's stock worth $11,133,000 after purchasing an additional 886,539 shares in the last quarter. Two Sigma Investments LP increased its stake in Pagaya Technologies by 359.6% during the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock worth $7,675,000 after purchasing an additional 646,357 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Pagaya Technologies by 310.6% during the 4th quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company's stock worth $5,810,000 after purchasing an additional 473,063 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $2,701,000. 57.14% of the stock is owned by institutional investors.

Insider Activity

In other Pagaya Technologies news, insider Yahav Yulzari sold 238,004 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.16, for a total transaction of $3,608,140.64. Following the completion of the sale, the insider now owns 4,346,141 shares of the company's stock, valued at $65,887,497.56. This trade represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Sanjiv Das sold 12,789 shares of the firm's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the sale, the president now directly owns 105,817 shares of the company's stock, valued at $989,388.95. This represents a 10.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 488,541 shares of company stock valued at $7,331,977. 47.59% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on PGY. Citigroup raised Pagaya Technologies from a "neutral" rating to a "buy" rating and increased their target price for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. B. Riley reaffirmed a "buy" rating and set a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Benchmark reaffirmed a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. JMP Securities upped their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.61.

Pagaya Technologies Stock Down 3.6%

Shares of NASDAQ PGY traded down $0.62 during trading hours on Friday, hitting $16.51. The company had a trading volume of 3,159,351 shares, compared to its average volume of 1,907,318. The stock has a market capitalization of $1.25 billion, a P/E ratio of -3.00 and a beta of 5.88. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a 1-year low of $8.20 and a 1-year high of $19.20. The firm's 50 day moving average is $12.01 and its 200-day moving average is $11.06.

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.