Marshall Wace LLP Sells 598,424 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Marshall Wace LLP cut its stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 95.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,424 shares of the company's stock after selling 598,424 shares during the quarter. Marshall Wace LLP's holdings in Pagaya Technologies were worth $283,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Pagaya Technologies during the fourth quarter worth about $30,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Pagaya Technologies during the fourth quarter worth about $43,000. Nisa Investment Advisors LLC bought a new stake in Pagaya Technologies during the fourth quarter worth approximately $57,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth $67,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Pagaya Technologies by 15.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock worth $101,000 after buying an additional 1,532 shares during the period. 57.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Citigroup upgraded Pagaya Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $13.00 to $14.50 in a report on Friday, February 7th. B. Riley reaffirmed a "buy" rating and issued a $36.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. 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 research report on Friday, February 14th. Canaccord Genuity Group restated a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Thursday, February 13th. Finally, Benchmark reissued a "buy" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.61.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 35,369 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $15.00, for a total transaction of $530,535.00. Following the transaction, the insider now directly owns 38,181 shares in the company, valued at $572,715. This represents a 48.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Sanjiv Das sold 12,789 shares of the firm'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 transaction, the president now owns 105,817 shares in the company, 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 ninety days, insiders sold 58,004 shares of company stock worth $770,036. 49.56% of the stock is currently owned by company insiders.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY traded up $2.62 during trading on Thursday, hitting $13.87. 5,814,932 shares of the company's stock were exchanged, compared to its average volume of 1,831,227. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -2.52 and a beta of 5.88. The business's 50-day simple moving average is $10.56 and its 200 day simple moving average is $10.71. 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 Ltd. has a 52-week low of $8.20 and a 52-week high of $19.20.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (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 company had revenue of $279.39 million during the quarter, compared to analysts' expectations of $264.28 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. As a group, equities analysts predict that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Pagaya Technologies Company 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.