Globeflex Capital L P Makes New Investment in Pagaya Technologies Ltd. $PGY

Globeflex Capital L P purchased a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 122,956 shares of the company’s stock, valued at approximately $2,244,000. Globeflex Capital L P owned approximately 0.15% of Pagaya Technologies at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Segall Bryant & Hamill LLC lifted its stake in Pagaya Technologies by 81.0% in the first quarter. Segall Bryant & Hamill LLC now owns 118,459 shares of the company’s stock worth $1,380,000 after acquiring an additional 53,011 shares during the period. Edgestream Partners L.P. grew its holdings in Pagaya Technologies by 353.2% during the 1st quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock worth $4,354,000 after acquiring an additional 291,291 shares in the last quarter. Royal Bank of Canada increased its position in Pagaya Technologies by 134.6% during the 1st quarter. Royal Bank of Canada now owns 35,940 shares of the company’s stock valued at $419,000 after purchasing an additional 20,623 shares during the period. Empowered Funds LLC increased its position in Pagaya Technologies by 4,562.7% during the 1st quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock valued at $1,359,000 after purchasing an additional 114,159 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Pagaya Technologies by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock valued at $176,000 after purchasing an additional 776 shares in the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Price Performance

Shares of Pagaya Technologies stock opened at $21.68 on Monday. The firm’s 50 day moving average price is $18.21 and its 200-day moving average price is $14.92. The company has a quick ratio of 11.08, a current ratio of 11.08 and a debt-to-equity ratio of 1.12. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99. The company has a market cap of $1.81 billion, a P/E ratio of 15.94 and a beta of 5.33.

Insider Buying and Selling

In other news, CAO Cory Vieira sold 2,140 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.01, for a total transaction of $32,121.40. Following the completion of the sale, the chief accounting officer owned 18,179 shares in the company, valued at approximately $272,866.79. This represents a 10.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Evangelos Perros sold 11,558 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $16.23, for a total value of $187,586.34. Following the completion of the sale, the insider directly owned 131,241 shares of the company’s stock, valued at $2,130,041.43. The trade was a 8.09% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 107,560 shares of company stock valued at $2,011,541 over the last quarter. Insiders own 41.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Canaccord Genuity Group boosted their price objective on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. B. Riley Financial increased their target price on Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $32.00.

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.