Pagaya Technologies Ltd. $PGY Shares Sold by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd reduced its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 98.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,125 shares of the company’s stock after selling 700,000 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Pagaya Technologies were worth $390,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 1,127,242 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Pagaya Technologies by 1,231.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock valued at $25,591,000 after buying an additional 1,110,208 shares during the period. Millennium Management LLC grew its position in 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 in the last quarter. American Century Companies Inc. increased its stake in Pagaya Technologies by 113.1% during the third quarter. American Century Companies Inc. now owns 1,094,799 shares of the company’s stock worth $32,505,000 after purchasing an additional 581,017 shares during the period. Finally, Jump Financial LLC lifted its position in shares of 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 in the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pagaya Technologies

In other news, CFO Evangelos Perros sold 9,750 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $224,152.50. Following the completion of the transaction, the chief financial officer owned 100,212 shares in the company, valued at approximately $2,303,873.88. This represents a 8.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $90,695.55. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 21,256 shares of company stock worth $547,198. 47.59% of the stock is currently owned by insiders.

Pagaya Technologies Stock Down 9.8%

Shares of NASDAQ PGY opened at $11.19 on Friday. The business has a 50-day moving average of $18.96 and a two-hundred day moving average of $26.02. The company has a market capitalization of $899.68 million, a price-to-earnings ratio of 12.57 and a beta of 5.85. 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 1.16, a current ratio of 11.41 and a quick ratio of 11.41.

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 business 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 45.94% and a net margin of 6.25%.The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. On average, analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PGY has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, January 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a research note on Friday, January 9th. Canaccord Genuity Group decreased their target price on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Citigroup cut their price target on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Benchmark decreased their price objective on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pagaya Technologies currently has an average rating of “Moderate Buy” and an average price target 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.