California State Teachers Retirement System Buys 1,848 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

California State Teachers Retirement System raised its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,771 shares of the company’s stock after acquiring an additional 1,848 shares during the period. California State Teachers Retirement System’s holdings in Pagaya Technologies were worth $332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Frontier Capital Management Co. LLC bought a new stake in shares of Pagaya Technologies during the fourth quarter worth about $28,070,000. Point72 Asset Management L.P. lifted its stake in shares of Pagaya Technologies by 284.3% in the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock worth $11,133,000 after acquiring an additional 886,539 shares during the period. Two Sigma Investments LP lifted its stake in shares of Pagaya Technologies by 359.6% in the fourth quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock worth $7,675,000 after acquiring an additional 646,357 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Pagaya Technologies by 310.6% in the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock worth $5,810,000 after acquiring an additional 473,063 shares during the period. Finally, Kennedy Capital Management LLC acquired a new position in Pagaya Technologies in the fourth quarter valued at approximately $2,701,000. Institutional investors own 57.14% of the company’s stock.

Insider Buying and Selling

In other Pagaya Technologies news, CTO Avital Pardo sold 237,748 shares of the firm’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 completion of the transaction, the chief technology officer now owns 2,401,528 shares in the company, valued at $36,407,164.48. This trade represents a 9.01% decrease in their position. The sale was disclosed in a document filed 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 dated 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 transaction, the president now owns 105,817 shares of the company’s stock, valued at approximately $989,388.95. This represents a 10.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 533,737 shares of company stock valued at $8,114,410. 47.59% of the stock is owned by insiders.

Pagaya Technologies Trading Up 1.5%

Shares of Pagaya Technologies stock opened at $18.46 on Friday. Pagaya Technologies Ltd. has a 1 year low of $8.20 and a 1 year high of $19.20. The firm has a market cap of $1.40 billion, a PE ratio of -3.36 and a beta of 5.93. The stock has a fifty day moving average price of $13.27 and a 200-day moving average price of $11.57. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PGY. JMP Securities boosted their price target on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Thursday, February 13th. Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. B. Riley reissued a “buy” rating and issued a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, Stephens began coverage on Pagaya Technologies in a research report on Thursday. They issued an “overweight” rating and a $22.00 price target for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Pagaya Technologies presently has an average rating of “Moderate Buy” and an average target price of $20.75.

About Pagaya Technologies

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.