Pagaya Technologies Ltd. $PGY Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Pagaya Technologies Ltd. (NASDAQ:PGY) by 24.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,052,701 shares of the company’s stock after selling 332,578 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.31% of Pagaya Technologies worth $31,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in Pagaya Technologies by 1,231.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after buying an additional 1,110,208 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Pagaya Technologies by 320.1% in the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after acquiring an additional 961,944 shares during the last quarter. Marshall Wace LLP raised its position in shares of Pagaya Technologies by 1,556.3% during the 3rd quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock valued at $19,952,000 after acquiring an additional 631,435 shares in the last quarter. American Century Companies Inc. raised its position in shares of Pagaya Technologies by 113.1% during the 3rd quarter. American Century Companies Inc. now owns 1,094,799 shares of the company’s stock valued at $32,505,000 after acquiring an additional 581,017 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in Pagaya Technologies by 509.6% during the second quarter. Jump Financial LLC now owns 672,635 shares of the company’s stock worth $14,341,000 after purchasing an additional 562,294 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Insider Activity at Pagaya Technologies

In related news, President Sanjiv Das sold 9,702 shares of Pagaya Technologies stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $10.99, for a total value of $106,624.98. Following the sale, the president directly owned 144,034 shares in the company, valued at $1,582,933.66. This trade represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tami Rosen sold 5,905 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $10.99, for a total transaction of $64,895.95. Following the completion of the transaction, the insider owned 47,264 shares of the company’s stock, valued at approximately $519,431.36. This trade represents a 11.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,727 shares of company stock worth $578,960 in the last ninety days. 47.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PGY shares. Canaccord Genuity Group decreased their price objective on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Citigroup dropped their target price on shares of Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Jefferies Financial Group reduced their price target on shares of Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Benchmark decreased their price target on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, Weiss Ratings raised shares of Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.11.

Pagaya Technologies Trading Down 3.5%

NASDAQ:PGY opened at $10.64 on Monday. The firm has a market capitalization of $878.12 million, a P/E ratio of 11.96 and a beta of 5.92. The business has a 50 day simple moving average of $15.47 and a 200 day simple moving average of $23.50. The company has a debt-to-equity ratio of 1.22, a current ratio of 10.55 and a quick ratio of 10.55. Pagaya Technologies Ltd. has a 12-month low of $8.50 and a 12-month high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Monday, February 9th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.05. The firm had revenue of $334.81 million for the quarter, compared to analyst estimates of $348.75 million. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. Equities research analysts predict that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Pagaya Technologies Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.