Adams Street Partners LLC Makes New $10.53 Million Investment in Pagaya Technologies Ltd. $PGY

Adams Street Partners LLC purchased a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 354,539 shares of the company’s stock, valued at approximately $10,526,000. Pagaya Technologies comprises about 6.9% of Adams Street Partners LLC’s portfolio, making the stock its 3rd largest position. Adams Street Partners LLC owned 0.46% of Pagaya Technologies at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PGY. Versant Capital Management Inc acquired a new position in Pagaya Technologies in the third quarter valued at $25,000. LSV Asset Management acquired a new stake in Pagaya Technologies in the 3rd quarter worth about $36,000. State of Alaska Department of Revenue acquired a new stake in Pagaya Technologies in the 3rd quarter worth about $84,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Pagaya Technologies in the 3rd quarter valued at about $98,000. Finally, RiverPark Advisors LLC purchased a new stake in Pagaya Technologies in the 3rd quarter valued at about $115,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Stock Up 0.5%

PGY opened at $10.96 on Friday. The firm has a 50 day moving average price of $16.84 and a 200 day moving average price of $24.48. The company has a market cap of $881.18 million, a PE ratio of 12.31 and a beta of 5.92. Pagaya Technologies Ltd. has a 1 year low of $8.50 and a 1 year high of $44.99. The company has a debt-to-equity ratio of 1.22, a quick ratio of 10.55 and a current ratio of 10.55.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Pagaya Technologies had a net margin of 6.25% and a return on equity of 44.24%. The firm had revenue of $334.81 million for the quarter, compared to analysts’ expectations of $348.75 million. During the same period in the previous year, the company posted $0.17 earnings per share. Pagaya Technologies’s revenue was up 19.8% compared to the same quarter last year. Sell-side analysts expect that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 7,561 shares of the company’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 sale, the insider directly owned 37,544 shares of the company’s stock, valued at approximately $1,153,727.12. This represents a 16.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Sanjiv Das sold 3,945 shares of the 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 completion of the sale, the president owned 129,986 shares of the company’s stock, valued at approximately $2,988,378.14. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 21,256 shares of company stock worth $547,198. 47.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PGY. Keefe, Bruyette & Woods cut their price objective on shares of Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, January 2nd. Wall Street Zen downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Finally, Freedom Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

About Pagaya Technologies

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.