Ameriprise Financial Inc. Has $714,000 Stock Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

Ameriprise Financial Inc. reduced its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,818 shares of the company’s stock after selling 2,146 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.10% of Pagaya Technologies worth $714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in Pagaya Technologies during the fourth quarter worth about $30,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $43,000. KLP Kapitalforvaltning AS bought a new stake in shares of Pagaya Technologies during the 4th quarter worth approximately $67,000. Arizona State Retirement System boosted its holdings 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 buying an additional 1,092 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Pagaya Technologies by 15.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock valued at $101,000 after buying an additional 1,532 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Yahav Yulzari sold 238,004 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,608,140.64. Following the completion of the transaction, the insider now owns 4,346,141 shares of the company’s stock, valued at $65,887,497.56. This represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Avital Pardo sold 237,748 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,604,259.68. Following the sale, the chief technology officer now owns 2,401,528 shares in the company, valued at approximately $36,407,164.48. This trade represents a 9.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 488,541 shares of company stock valued at $7,331,977. Corporate insiders own 47.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PGY. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $14.50 in a report on Friday, February 7th. Benchmark reiterated 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 reissued a “buy” rating and set a $36.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Finally, JMP Securities raised their price target on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Pagaya Technologies has an average rating of “Moderate Buy” and an average price target of $20.61.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY opened at $16.72 on Tuesday. The firm has a 50 day moving average of $12.11 and a 200-day moving average of $11.13. The stock has a market capitalization of $1.27 billion, a PE ratio of -3.04 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 Ltd. has a 12 month low of $8.20 and a 12 month high of $19.20.

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.