Allspring Global Investments Holdings LLC Has $145,000 Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

Allspring Global Investments Holdings LLC cut its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 97.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,717 shares of the company’s stock after selling 497,408 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Pagaya Technologies were worth $145,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Frontier Capital Management Co. LLC acquired a new stake in Pagaya Technologies during the 4th quarter valued at $28,070,000. Point72 Asset Management L.P. increased its holdings in Pagaya Technologies by 284.3% during the 4th quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock valued at $11,133,000 after purchasing an additional 886,539 shares in the last quarter. Two Sigma Investments LP increased its holdings in Pagaya Technologies by 359.6% during the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock valued at $7,675,000 after purchasing an additional 646,357 shares in the last quarter. JPMorgan Chase & Co. increased 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 purchasing an additional 473,063 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in Pagaya Technologies during the 4th quarter valued at $2,701,000. 57.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pagaya Technologies news, President Sanjiv Das sold 31,382 shares of Pagaya Technologies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.15, for a total transaction of $538,201.30. Following the transaction, the president directly owned 74,435 shares in the company, valued at approximately $1,276,560.25. The trade was a 29.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tami Rosen sold 14,645 shares of Pagaya Technologies stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $22.57, for a total value of $330,537.65. Following the transaction, the insider owned 49,440 shares in the company, valued at approximately $1,115,860.80. This represents a 22.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,345,470 shares of company stock valued at $24,118,452. Insiders own 47.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PGY. Wall Street Zen cut Pagaya Technologies from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Stephens started coverage on Pagaya Technologies in a research report on Thursday, June 12th. They issued an “overweight” rating and a $22.00 price objective on the stock. 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. JMP Securities reiterated a “market outperform” rating and issued a $26.00 price objective on shares of Pagaya Technologies in a research report on Tuesday, June 24th. Finally, Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.45.

Pagaya Technologies Stock Down 2.3%

NASDAQ:PGY opened at $23.01 on Friday. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $23.93. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $1.74 billion, a P/E ratio of -4.54 and a beta of 5.93. The stock’s fifty day simple moving average is $17.73 and its 200-day simple moving average is $13.16.

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.