Squarepoint Ops LLC Purchases 216,770 Shares of Pagaya Technologies Ltd. $PGY

Squarepoint Ops LLC increased its position in Pagaya Technologies Ltd. (NASDAQ:PGY) by 614.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 252,036 shares of the company’s stock after acquiring an additional 216,770 shares during the quarter. Squarepoint Ops LLC’s holdings in Pagaya Technologies were worth $4,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PGY. California State Teachers Retirement System lifted its holdings in Pagaya Technologies by 1,899.0% during the second quarter. California State Teachers Retirement System now owns 3,561,013 shares of the company’s stock valued at $64,988,000 after purchasing an additional 3,382,876 shares during the last quarter. Millennium Management LLC raised its position in shares of Pagaya Technologies by 75.2% in the fourth quarter. Millennium Management LLC now owns 1,738,760 shares of the company’s stock valued at $36,340,000 after purchasing an additional 746,216 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Pagaya Technologies by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after purchasing an additional 359,099 shares during the period. Two Sigma Investments LP lifted its stake in shares of Pagaya Technologies by 5.2% during the 3rd quarter. Two Sigma Investments LP now owns 1,452,578 shares of the company’s stock valued at $43,127,000 after buying an additional 71,639 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Pagaya Technologies by 27.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,354,064 shares of the company’s stock worth $28,300,000 after buying an additional 290,379 shares during the period. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Stock Down 1.6%

PGY opened at $19.97 on Friday. The business’s fifty day simple moving average is $19.93 and its 200 day simple moving average is $15.72. Pagaya Technologies Ltd. has a 52 week low of $10.40 and a 52 week high of $44.99. The company has a quick ratio of 11.08, a current ratio of 11.08 and a debt-to-equity ratio of 1.12. The stock has a market cap of $1.67 billion, a PE ratio of 14.68 and a beta of 5.35.

Insider Transactions at Pagaya Technologies

In related news, Director Tami Rosen sold 28,181 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $21.98, for a total value of $619,418.38. Following the completion of the sale, the director owned 16,665 shares in the company, valued at $366,296.70. The trade was a 62.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gal Krubiner bought 16,230 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was purchased at an average cost of $15.43 per share, with a total value of $250,428.90. Following the purchase, the chief executive officer owned 555,906 shares of the company’s stock, valued at $8,577,629.58. This represents a 3.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 76,137 shares of company stock worth $1,512,809. 41.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Pagaya Technologies from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Canaccord Genuity Group raised their price target on Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, July 31st. B. Riley Financial lifted their price target on Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Pagaya Technologies has an average rating of “Buy” and a consensus price target of $31.25.

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.