Kennedy Capital Management LLC Acquires New Stake in Pagaya Technologies Ltd. (NASDAQ:PGY)

Kennedy Capital Management LLC acquired a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 290,699 shares of the company's stock, valued at approximately $2,701,000. Kennedy Capital Management LLC owned approximately 0.39% of Pagaya Technologies as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Pagaya Technologies by 1.8% during the 4th quarter. Invesco Ltd. now owns 48,030 shares of the company's stock worth $446,000 after acquiring an additional 864 shares in the last quarter. Arizona State Retirement System boosted its holdings in Pagaya Technologies by 10.9% in the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company's stock valued at $104,000 after purchasing an additional 1,092 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Pagaya Technologies by 15.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock valued at $101,000 after purchasing an additional 1,532 shares during the last quarter. Tidal Investments LLC raised its holdings in Pagaya Technologies by 4.6% during the third quarter. Tidal Investments LLC now owns 41,322 shares of the company's stock worth $437,000 after purchasing an additional 1,826 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Pagaya Technologies by 13.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company's stock worth $176,000 after buying an additional 1,937 shares during the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PGY has been the topic of a number of recent analyst reports. B. Riley reaffirmed a "buy" rating and issued a $36.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. UBS Group started coverage on Pagaya Technologies in a report on Friday, December 20th. They issued a "neutral" rating and a $11.00 target price for the company. JMP Securities raised their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a research note on Friday, February 14th. Citigroup upgraded Pagaya Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.61.

Insiders Place Their Bets

In other Pagaya Technologies news, President Sanjiv Das sold 12,789 shares of the company's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total value of $119,577.15. Following the sale, the president now owns 105,817 shares of the company's stock, valued at approximately $989,388.95. This represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tami Rosen sold 35,369 shares of Pagaya Technologies stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $15.00, for a total value of $530,535.00. Following the transaction, the insider now directly owns 38,181 shares of the company's stock, valued at $572,715. This trade represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,004 shares of company stock worth $770,036. 49.56% of the stock is owned by company insiders.

Pagaya Technologies Stock Performance

NASDAQ PGY traded up $0.17 during trading hours on Friday, hitting $9.46. 1,300,520 shares of the stock were exchanged, compared to its average volume of 1,767,291. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $19.20. The stock has a 50-day moving average of $11.46 and a 200 day moving average of $10.68. The company has a market cap of $711.94 million, a price-to-earnings ratio of -1.72 and a beta of 5.89. 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 (NASDAQ:PGY - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The business had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. During the same period last year, the business posted $0.24 EPS. As a group, equities research analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current 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.