Hsbc Holdings PLC Acquires Shares of 18,369 Pagaya Technologies Ltd. (NASDAQ:PGY)

Hsbc Holdings PLC acquired a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,369 shares of the company's stock, valued at approximately $172,000.

A number of other large investors have also made changes to their positions in PGY. R Squared Ltd purchased a new position in shares of Pagaya Technologies during the 4th quarter worth $30,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Pagaya Technologies in the 4th quarter worth about $43,000. Nisa Investment Advisors LLC acquired a new stake in Pagaya Technologies in the 4th quarter worth about $57,000. KLP Kapitalforvaltning AS purchased a new stake in Pagaya Technologies in the 4th quarter valued at about $67,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Pagaya Technologies by 15.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock valued at $101,000 after acquiring an additional 1,532 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company's stock.

Analysts Set New Price Targets

PGY has been the topic of several research analyst reports. B. Riley reissued a "buy" rating and issued a $36.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Canaccord Genuity Group reiterated a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities upped their price objective on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Benchmark reaffirmed a "buy" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, Citigroup raised Pagaya Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the company from $13.00 to $14.50 in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Pagaya Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $20.61.

Insiders Place Their Bets

In other Pagaya Technologies news, CTO Avital Pardo sold 237,748 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the sale, the chief technology officer now directly owns 2,401,528 shares in the company, valued at approximately $36,407,164.48. The trade was a 9.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Yahav Yulzari sold 238,004 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $15.16, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 488,541 shares of company stock valued at $7,331,977 in the last quarter. Insiders own 47.59% of the company's stock.

Pagaya Technologies Stock Up 2.0%

Pagaya Technologies stock traded up $0.29 during midday trading on Friday, hitting $14.33. 388,977 shares of the company were exchanged, compared to its average volume of 2,385,702. The company has a market cap of $1.08 billion, a PE ratio of -2.60 and a beta of 5.88. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $19.20. The company's fifty day moving average price is $11.01 and its 200-day moving average price is $10.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The company had revenue of $279.39 million for the quarter, compared to analyst estimates of $264.28 million. During the same period in the previous year, the business posted $0.24 EPS. On average, research analysts predict that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

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.