ProShare Advisors LLC Makes New Investment in Pagaya Technologies Ltd. (NASDAQ:PGY)

ProShare Advisors LLC bought a new position in Pagaya Technologies Ltd. (NASDAQ:PGY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,140 shares of the company’s stock, valued at approximately $94,000.

A number of other institutional investors have also added to or reduced their stakes in PGY. Frontier Capital Management Co. LLC purchased a new position in shares of Pagaya Technologies in the 4th quarter worth about $28,070,000. JPMorgan Chase & Co. boosted its holdings in Pagaya Technologies by 310.6% during the 4th quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock valued at $5,810,000 after acquiring an additional 473,063 shares during the period. Kennedy Capital Management LLC purchased a new stake in Pagaya Technologies during the 4th quarter valued at about $2,701,000. Portolan Capital Management LLC purchased a new stake in Pagaya Technologies during the 4th quarter valued at about $2,525,000. Finally, Federated Hermes Inc. boosted its holdings in Pagaya Technologies by 9.1% during the 4th quarter. Federated Hermes Inc. now owns 167,885 shares of the company’s stock valued at $1,560,000 after acquiring an additional 14,072 shares during the period. 57.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pagaya Technologies

In related news, President Sanjiv Das sold 12,789 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total value 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. The trade was a 10.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Avital Pardo sold 237,748 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the completion of the transaction, the chief technology officer now directly owns 2,401,528 shares of the company’s stock, valued at $36,407,164.48. This trade represents a 9.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 519,923 shares of company stock worth $7,870,179 over the last 90 days. Company insiders own 47.59% of the company’s stock.

Pagaya Technologies Trading Up 2.6%

Shares of NASDAQ PGY opened at $17.15 on Wednesday. The business’s 50 day moving average is $12.22 and its two-hundred day moving average is $11.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. Pagaya Technologies Ltd. has a 1-year low of $8.20 and a 1-year high of $19.20. The stock has a market capitalization of $1.30 billion, a P/E ratio of -3.12 and a beta of 5.88.

Wall Street Analysts Forecast Growth

PGY has been the subject of several analyst reports. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.00 to $14.50 in a report on Friday, February 7th. Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. B. Riley reissued a “buy” rating and issued a $36.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. JMP Securities increased their target price 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. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Pagaya Technologies currently has an average rating of “Moderate Buy” and an average 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.