Commonwealth Equity Services LLC Purchases 3,965 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Commonwealth Equity Services LLC increased its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 21.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,828 shares of the company’s stock after acquiring an additional 3,965 shares during the period. Commonwealth Equity Services LLC’s holdings in Pagaya Technologies were worth $212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PGY. State Street Corp grew its holdings in shares of Pagaya Technologies by 14.6% during the third quarter. State Street Corp now owns 763,823 shares of the company’s stock worth $8,074,000 after purchasing an additional 97,135 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Pagaya Technologies by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 596,992 shares of the company’s stock worth $6,310,000 after buying an additional 43,068 shares during the period. FMR LLC grew its position in shares of Pagaya Technologies by 8.3% in the 3rd quarter. FMR LLC now owns 524,570 shares of the company’s stock valued at $5,545,000 after buying an additional 40,031 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Pagaya Technologies by 502.5% in the third quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock valued at $1,610,000 after buying an additional 127,012 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Pagaya Technologies by 17.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock worth $1,184,000 after acquiring an additional 16,533 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Stock Performance

PGY stock opened at $10.14 on Thursday. The firm has a market cap of $763.52 million, a PE ratio of -1.84 and a beta of 5.89. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $19.20. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average of $11.68 and a 200-day moving average of $10.74.

Pagaya Technologies (NASDAQ:PGY) last released its 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 positive return on equity of 0.82% and a negative net margin of 39.20%. The firm had revenue of $279.39 million during the quarter, compared to analysts’ expectations of $264.28 million. During the same period in the prior year, the business earned $0.24 earnings per share. As a group, sell-side analysts expect that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insider Activity

In related news, President Sanjiv Das sold 7,282 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $64,445.70. Following the transaction, the president now owns 91,163 shares of the company’s stock, valued at approximately $806,792.55. This trade represents a 7.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tami Rosen sold 35,369 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total value of $530,535.00. Following the sale, the insider now owns 38,181 shares of the company’s stock, valued at $572,715. This represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,497 shares of company stock worth $714,905. 49.56% of the stock is owned by company insiders.

Analyst Ratings Changes

PGY has been the topic of several analyst reports. JMP Securities upped their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $13.00 to $14.50 in a research report on Friday, February 7th. Benchmark reaffirmed a “buy” rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Finally, B. Riley reiterated a “buy” rating and issued a $36.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. Two equities research 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, Pagaya Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $20.61.

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.