Pagaya Technologies Ltd. (NASDAQ:PGY) Stock Holdings Decreased by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 462,563 shares of the company's stock after selling 134,429 shares during the period. Geode Capital Management LLC owned about 0.63% of Pagaya Technologies worth $4,297,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PGY. R Squared Ltd acquired a new position in Pagaya Technologies during the 4th quarter worth about $30,000. Nisa Investment Advisors LLC acquired a new position in shares of Pagaya Technologies during the fourth quarter worth approximately $57,000. KLP Kapitalforvaltning AS acquired a new position in shares of Pagaya Technologies during the fourth quarter worth approximately $67,000. CIBC Private Wealth Group LLC grew its stake in shares of Pagaya Technologies by 15.9% during 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. Finally, Arizona State Retirement System increased its holdings in shares of 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. Institutional investors and hedge funds own 57.14% of the company's stock.

Pagaya Technologies Price Performance

Shares of PGY traded up $0.38 during midday trading on Thursday, reaching $11.34. The stock had a trading volume of 292,830 shares, compared to its average volume of 2,296,187. The company has a market capitalization of $853.95 million, a price-to-earnings ratio of -2.07 and a beta of 5.89. The company's 50-day moving average is $10.71 and its 200 day moving average is $10.70. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $19.20.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $264.28 million. During the same period in the previous year, the company earned $0.24 EPS. On average, equities analysts predict that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PGY has been the subject of several research reports. JMP Securities lifted their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. B. Riley reaffirmed a "buy" rating and set a $36.00 price objective 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 research note on Thursday, February 13th. Benchmark reaffirmed a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. Finally, Citigroup upgraded 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 note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Pagaya Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $20.61.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 9,846 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $12.18, for a total transaction of $119,924.28. Following the transaction, the insider now owns 73,550 shares of the company's stock, valued at approximately $895,839. This represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total transaction of $119,577.15. Following the completion of the sale, the president now owns 105,817 shares of the company's stock, valued at approximately $989,388.95. The trade was a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,004 shares of company stock valued at $770,036. 49.56% of the stock is owned by corporate insiders.

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.