SG Americas Securities LLC Purchases Shares of 14,903 Pagaya Technologies Ltd. $PGY

SG Americas Securities LLC purchased a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,903 shares of the company’s stock, valued at approximately $318,000.

Several other institutional investors have also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB acquired a new stake in Pagaya Technologies during the 2nd quarter valued at $25,000. Virtus Advisers LLC purchased a new stake in shares of Pagaya Technologies in the first quarter valued at $35,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Pagaya Technologies by 35.8% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock valued at $42,000 after acquiring an additional 520 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Pagaya Technologies by 77.4% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,435 shares of the company’s stock worth $95,000 after purchasing an additional 1,935 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Pagaya Technologies in the 1st quarter valued at about $107,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PGY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pagaya Technologies in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods upped their price objective on shares of Pagaya Technologies from $27.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Benchmark restated a “buy” rating and set a $48.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Wall Street Zen upgraded Pagaya Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. Finally, Zacks Research cut Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.67.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $24.96 on Friday. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -9.35 and a beta of 5.83. The company has a 50 day moving average price of $27.81 and a 200 day moving average price of $27.01. Pagaya Technologies Ltd. has a one year low of $8.27 and a one year high of $44.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 11.41 and a current ratio of 11.41.

Insider Buying and Selling

In related news, CFO Evangelos Perros sold 14,356 shares of Pagaya Technologies stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $37.34, for a total value of $536,053.04. Following the transaction, the chief financial officer owned 59,079 shares in the company, valued at approximately $2,206,009.86. This trade represents a 19.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Sanjiv Das sold 13,304 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $40.62, for a total value of $540,408.48. Following the sale, the president owned 96,885 shares of the company’s stock, valued at $3,935,468.70. This represents a 12.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 95,081 shares of company stock valued at $3,475,010. 47.59% of the stock is currently owned by company insiders.

Pagaya Technologies Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.