Pagaya Technologies Ltd. (NASDAQ:PGY) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,552 shares of the company’s stock after selling 1,227 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Pagaya Technologies were worth $136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new stake in Pagaya Technologies during the 4th quarter worth approximately $30,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Pagaya Technologies in the fourth quarter valued at approximately $43,000. Nisa Investment Advisors LLC purchased a new stake in shares of Pagaya Technologies in the fourth quarter valued at approximately $57,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Pagaya Technologies in the fourth quarter valued at approximately $67,000. Finally, CIBC Private Wealth Group LLC grew its position 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 valued at $101,000 after purchasing an additional 1,532 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PGY. B. Riley reiterated a “buy” rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Benchmark reiterated a “buy” rating and issued a $25.00 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 objective on shares of Pagaya Technologies in a research report on Thursday, February 13th. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Finally, JMP Securities increased 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. 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.com, Pagaya Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $20.61.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, CTO Avital Pardo sold 237,748 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.16, for a total value of $3,604,259.68. Following the completion of the sale, the chief technology officer now owns 2,401,528 shares in the company, valued at $36,407,164.48. This represents a 9.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Sanjiv Das sold 12,789 shares of the firm’s stock in a transaction 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. Insiders sold a total of 488,541 shares of company stock valued at $7,331,977 over the last ninety days. Insiders own 47.59% of the company’s stock.

Pagaya Technologies Stock Performance

Shares of Pagaya Technologies stock opened at $14.30 on Friday. The firm has a market cap of $1.08 billion, a PE ratio of -2.60 and a beta of 5.88. The firm’s 50-day simple moving average is $11.10 and its 200-day simple moving average is $10.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. Pagaya Technologies Ltd. has a 1 year low of $8.20 and a 1 year high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). The business had revenue of $279.39 million for the quarter, compared to the consensus estimate of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same period in the prior year, the company earned $0.24 EPS. Equities analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

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.