Rhumbline Advisers Sells 21,481 Shares of Pagaya Technologies Ltd. $PGY

Rhumbline Advisers reduced its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 28.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,139 shares of the company’s stock after selling 21,481 shares during the quarter. Rhumbline Advisers owned 0.07% of Pagaya Technologies worth $567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Pagaya Technologies by 26.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after purchasing an additional 359,099 shares in the last quarter. Millennium Management LLC increased its stake in Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after purchasing an additional 961,944 shares in the last quarter. Two Sigma Investments LP increased its stake 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. Nuveen LLC bought a new stake in Pagaya Technologies during the 1st quarter valued at about $6,465,000. Finally, Cubist Systematic Strategies LLC increased its stake in Pagaya Technologies by 2,256.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 521,721 shares of the company’s stock valued at $5,468,000 after purchasing an additional 499,584 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY opened at $41.30 on Tuesday. The firm has a 50 day moving average of $33.91 and a 200 day moving average of $21.28. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -10.78 and a beta of 5.96. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $44.99.

Insider Buying and Selling at Pagaya Technologies

In related news, insider Tami Rosen sold 13,870 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $41.20, for a total transaction of $571,444.00. Following the completion of the sale, the insider directly owned 43,207 shares in the company, valued at approximately $1,780,128.40. The trade was a 24.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dan Petrozzo sold 8,484 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $30.15, for a total transaction of $255,792.60. Following the sale, the director owned 96,278 shares of the company’s stock, valued at $2,902,781.70. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,870 shares of company stock valued at $6,469,002. 47.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PGY shares. Oppenheimer lifted their price target on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Stephens started coverage on shares of Pagaya Technologies in a research note on Thursday, June 12th. They issued an “overweight” rating and a $22.00 price target for the company. B. Riley lifted their price target on shares of Pagaya Technologies from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. JMP Securities lifted their price target on shares of Pagaya Technologies from $26.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Monday, August 11th. Finally, Citigroup lifted their price target on shares of Pagaya Technologies from $16.50 to $40.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.33.

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.