PDT Partners LLC Cuts Stock Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

PDT Partners LLC reduced its stake in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 50.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,991 shares of the company's stock after selling 37,146 shares during the quarter. PDT Partners LLC's holdings in Pagaya Technologies were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Pagaya Technologies during the 4th quarter valued at about $30,000. Pilgrim Partners Asia Pte Ltd bought a new position in Pagaya Technologies during the fourth quarter valued at approximately $43,000. Nisa Investment Advisors LLC purchased a new position in shares of Pagaya Technologies during the fourth quarter worth approximately $57,000. KLP Kapitalforvaltning AS bought a new stake in shares of Pagaya Technologies in the 4th quarter worth approximately $67,000. Finally, Arizona State Retirement System boosted its stake in shares of Pagaya Technologies by 10.9% in the 4th 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. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Stock Up 4.2 %

Shares of Pagaya Technologies stock opened at $11.84 on Friday. 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. The company has a market cap of $891.53 million, a P/E ratio of -2.15 and a beta of 5.89. The company's fifty day simple moving average is $10.65 and its two-hundred day simple moving average is $10.71.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32). The company 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 period in the previous year, the company earned $0.24 earnings per share. Research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 35,369 shares of Pagaya Technologies stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Sanjiv Das sold 12,789 shares of the company's stock in a transaction dated Thursday, April 17th. The stock was 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 in the company, valued at approximately $989,388.95. This trade represents a 10.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,004 shares of company stock worth $770,036 over the last ninety days. 49.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.

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