Zurcher Kantonalbank Zurich Cantonalbank Sells 3,562 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 19.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,843 shares of the company’s stock after selling 3,562 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pagaya Technologies were worth $156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ARK Investment Management LLC bought a new position in shares of Pagaya Technologies during the first quarter valued at approximately $2,296,000. Kestra Private Wealth Services LLC bought a new position in shares of Pagaya Technologies in the 1st quarter worth approximately $127,000. Private Advisor Group LLC bought a new position in shares of Pagaya Technologies in the 1st quarter worth approximately $118,000. Archer Investment Corp bought a new position in shares of Pagaya Technologies in the 1st quarter worth approximately $129,000. Finally, Bailard Inc. bought a new position in shares of Pagaya Technologies in the 1st quarter worth approximately $246,000. Institutional investors own 57.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PGY shares. Stephens started coverage on Pagaya Technologies in a research report on Thursday, June 12th. They issued an “overweight” rating and a $22.00 target price for the company. Citigroup raised their price objective on Pagaya Technologies from $16.50 to $40.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Wall Street Zen raised Pagaya Technologies from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Oppenheimer raised their price objective on Pagaya Technologies from $16.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on Pagaya Technologies from $27.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.40.

Pagaya Technologies Stock Performance

PGY stock opened at $28.67 on Monday. The company has a market cap of $2.17 billion, a P/E ratio of -7.49 and a beta of 5.95. Pagaya Technologies Ltd. has a 1 year low of $8.20 and a 1 year high of $41.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.42 and a quick ratio of 1.42. The stock’s fifty day moving average price is $23.78 and its 200-day moving average price is $16.06.

Insider Transactions at Pagaya Technologies

In other news, insider Yahav Yulzari sold 241,160 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $4,738,794.00. Following the transaction, the insider directly owned 3,846,564 shares in the company, valued at $75,584,982.60. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Avital Pardo sold 239,989 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $4,715,783.85. Following the completion of the transaction, the chief technology officer owned 802,961 shares in the company, valued at approximately $15,778,183.65. This trade represents a 23.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 878,155 shares of company stock valued at $17,372,922. Corporate insiders own 47.59% of the company’s stock.

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.