Pagaya Technologies Ltd. $PGY Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 113.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,094,799 shares of the company’s stock after buying an additional 581,017 shares during the period. American Century Companies Inc. owned 1.43% of Pagaya Technologies worth $32,505,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PGY. Goldman Sachs Group Inc. raised 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 worth $17,871,000 after acquiring an additional 359,099 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Pagaya Technologies by 436.9% in the second quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock valued at $29,534,000 after acquiring an additional 1,127,242 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after purchasing an additional 961,944 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Pagaya Technologies by 1,231.6% during the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after purchasing an additional 1,110,208 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Pagaya Technologies by 40.2% during the second quarter. Cubist Systematic Strategies LLC now owns 731,454 shares of the company’s stock worth $15,595,000 after purchasing an additional 209,733 shares in the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Sanjiv Das sold 3,945 shares of Pagaya Technologies stock in a transaction on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $90,695.55. Following the transaction, the president directly owned 129,986 shares in the company, valued at $2,988,378.14. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tami Rosen sold 7,561 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $30.73, for a total transaction of $232,349.53. Following the completion of the transaction, the insider directly owned 37,544 shares in the company, valued at $1,153,727.12. This represents a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 21,256 shares of company stock valued at $547,198. Company insiders own 47.59% of the company’s stock.

Analyst Ratings Changes

PGY has been the subject of several research reports. Weiss Ratings raised Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday. Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods reduced their price objective on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, January 2nd. Citigroup decreased their price objective on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Jefferies Financial Group lowered their target price 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. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

Pagaya Technologies Price Performance

Shares of PGY opened at $11.49 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 11.41 and a current ratio of 10.55. Pagaya Technologies Ltd. has a fifty-two week low of $8.50 and a fifty-two week high of $44.99. The firm has a 50-day simple moving average of $17.85 and a 200-day simple moving average of $25.22. The company has a market capitalization of $923.80 million, a price-to-earnings ratio of 12.91 and a beta of 5.92.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Monday, February 9th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. The firm had revenue of $334.81 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $0.17 EPS. On average, equities research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share 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.