Pagaya Technologies Ltd. (NASDAQ:PGY) Stock Position Cut by Marshall Wace LLP

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 its most recent filing with the Securities & Exchange Commission. The firm owned 30,424 shares of the company's stock after selling 598,424 shares during the period. Marshall Wace LLP's holdings in Pagaya Technologies were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PGY. JPMorgan Chase & Co. lifted its position in Pagaya Technologies by 310.6% during the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company's stock valued at $5,810,000 after buying an additional 473,063 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in Pagaya Technologies during the 4th quarter worth $2,701,000. Portolan Capital Management LLC acquired a new stake in Pagaya Technologies in the 4th quarter valued at $2,525,000. Barclays PLC purchased a new position in Pagaya Technologies in the fourth quarter valued at about $595,000. Finally, Jump Financial LLC lifted its stake in shares of Pagaya Technologies by 55.2% during the fourth quarter. Jump Financial LLC now owns 121,047 shares of the company's stock worth $1,125,000 after purchasing an additional 43,049 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Pagaya Technologies news, President Sanjiv Das sold 12,789 shares of the company's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the completion of the transaction, the president now owns 105,817 shares in the company, valued at approximately $989,388.95. This represents a 10.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tami Rosen sold 35,369 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now owns 38,181 shares in the company, valued at $572,715. The trade was a 48.09 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 49.56% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PGY shares. JMP Securities lifted their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Canaccord Genuity Group reiterated a "buy" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. Benchmark restated a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. B. Riley reiterated a "buy" rating and issued a $36.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Finally, Citigroup raised 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. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.61.

Pagaya Technologies Stock Up 5.1 %

NASDAQ PGY traded up $0.71 on Friday, hitting $14.58. 2,859,028 shares of the stock traded hands, compared to its average volume of 1,830,418. The stock has a 50-day moving average of $10.67 and a 200 day moving average of $10.74. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $19.20. The company has a market capitalization of $1.10 billion, a P/E ratio of -2.65 and a beta of 5.88. 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 (NASDAQ:PGY - Get Free Report) last posted 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). The business had revenue of $279.39 million during the quarter, compared to the consensus estimate of $264.28 million. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, analysts expect that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal 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.