Allspring Global Investments Holdings LLC Sells 497,408 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Allspring Global Investments Holdings LLC lowered its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 97.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,717 shares of the company’s stock after selling 497,408 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Pagaya Technologies were worth $145,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in Pagaya Technologies by 9.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company’s stock worth $130,000 after purchasing an additional 1,094 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Pagaya Technologies by 5,431.3% in the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company’s stock valued at $46,000 after acquiring an additional 4,345 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Pagaya Technologies by 5.4% in the 4th quarter. California State Teachers Retirement System now owns 35,771 shares of the company’s stock valued at $332,000 after acquiring an additional 1,848 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Pagaya Technologies in the 4th quarter valued at $93,000. Finally, PharVision Advisers LLC purchased a new stake in shares of Pagaya Technologies in the 4th quarter valued at $109,000. Institutional investors own 57.14% of the company’s stock.

Insider Buying and Selling

In related news, President Sanjiv Das sold 4,784 shares of Pagaya Technologies stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $22.57, for a total value of $107,974.88. Following the transaction, the president owned 88,388 shares of the company’s stock, valued at approximately $1,994,917.16. This trade represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yahav Yulzari sold 52,867 shares of Pagaya Technologies stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $20.24, for a total value of $1,070,028.08. Following the transaction, the insider directly owned 4,087,724 shares in the company, valued at approximately $82,735,533.76. This trade represents a 1.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,345,470 shares of company stock valued at $24,118,452 in the last three months. 47.59% of the stock is owned by corporate insiders.

Pagaya Technologies Stock Down 2.3%

Shares of NASDAQ:PGY opened at $23.01 on Friday. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week 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 company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -4.54 and a beta of 5.93. The company has a 50 day moving average of $17.73 and a two-hundred day moving average of $13.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PGY shares. Keefe, Bruyette & Woods raised their target price on Pagaya Technologies from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday. Stephens assumed coverage on Pagaya Technologies in a research report on Thursday, June 12th. They issued an “overweight” rating and a $22.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. JMP Securities reissued a “market outperform” rating and issued a $26.00 price target on shares of Pagaya Technologies in a research note on Tuesday, June 24th. Finally, Oppenheimer increased their price objective on shares of Pagaya Technologies from $16.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.45.

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.