Geode Capital Management LLC Increases Stock Holdings in Pagaya Technologies Ltd. $PGY

Geode Capital Management LLC boosted its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 19.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 567,147 shares of the company’s stock after acquiring an additional 93,962 shares during the quarter. Geode Capital Management LLC owned 0.75% of Pagaya Technologies worth $12,090,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in PGY. GSA Capital Partners LLP grew its position in shares of Pagaya Technologies by 252.7% in the first quarter. GSA Capital Partners LLP now owns 51,605 shares of the company’s stock valued at $541,000 after purchasing an additional 36,974 shares during the period. Deutsche Bank AG acquired a new position in shares of Pagaya Technologies during the 1st quarter worth about $692,000. Swiss National Bank lifted its stake in Pagaya Technologies by 1.7% in the 1st quarter. Swiss National Bank now owns 76,883 shares of the company’s stock valued at $806,000 after buying an additional 1,300 shares in the last quarter. Invesco Ltd. boosted its holdings in Pagaya Technologies by 20.5% in the 1st quarter. Invesco Ltd. now owns 57,875 shares of the company’s stock worth $607,000 after buying an additional 9,845 shares during the last quarter. Finally, Virtu Financial LLC increased its stake in Pagaya Technologies by 26.2% during the 1st quarter. Virtu Financial LLC now owns 18,656 shares of the company’s stock worth $196,000 after buying an additional 3,869 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Pagaya Technologies Trading Down 3.8%

Shares of PGY opened at $23.22 on Wednesday. Pagaya Technologies Ltd. has a 12-month low of $8.27 and a 12-month high of $44.99. The firm has a market capitalization of $1.87 billion, a P/E ratio of -8.70 and a beta of 5.84. The firm has a 50-day moving average price of $27.18 and a 200 day moving average price of $27.22. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.16.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Benchmark restated a “buy” rating and issued a $48.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Wall Street Zen raised shares of Pagaya Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Canaccord Genuity Group increased their target price on shares of Pagaya Technologies from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Pagaya Technologies from $27.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.67.

Insider Activity

In other Pagaya Technologies news, CFO Evangelos Perros sold 12,754 shares of Pagaya Technologies stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $30.20, for a total value of $385,170.80. Following the sale, the chief financial officer owned 78,163 shares in the company, valued at $2,360,522.60. The trade was a 14.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Sanjiv Das sold 4,783 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $30.20, for a total value of $144,446.60. Following the completion of the transaction, the president directly owned 100,640 shares in the company, valued at approximately $3,039,328. This trade represents a 4.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 95,081 shares of company stock valued at $3,475,010 in the last 90 days. Company 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.