Temasek Holdings Private Ltd Acquires Shares of 144,068 Pagaya Technologies Ltd. $PGY

Temasek Holdings Private Ltd acquired a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 144,068 shares of the company’s stock, valued at approximately $4,277,000. Temasek Holdings Private Ltd owned 0.19% of Pagaya Technologies at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PGY. Versant Capital Management Inc acquired a new position in shares of Pagaya Technologies in the third quarter valued at about $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 bought a new stake in Pagaya Technologies in the 3rd quarter valued at about $84,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Pagaya Technologies in the 3rd quarter valued at about $98,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Pagaya Technologies during the 3rd quarter worth approximately $115,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PGY. Benchmark lowered their target price on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Wall Street Zen downgraded Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Citigroup lowered their price objective on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Canaccord Genuity Group dropped their price objective on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, Zacks Research downgraded Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Pagaya Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $33.11.

Insider Activity

In other news, President Sanjiv Das sold 3,945 shares of the firm’s 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 owned 129,986 shares of the company’s stock, valued at approximately $2,988,378.14. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Evangelos Perros sold 9,750 shares of Pagaya Technologies stock in a transaction on Monday, January 5th. The stock was sold at an average price of $22.99, for a total transaction of $224,152.50. Following the transaction, the chief financial officer owned 100,212 shares in the company, valued at approximately $2,303,873.88. This trade represents a 8.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 21,256 shares of company stock valued at $547,198. Insiders own 47.59% of the company’s stock.

Pagaya Technologies Stock Performance

NASDAQ:PGY opened at $10.96 on Friday. The stock’s 50-day moving average is $16.84 and its 200-day moving average is $24.55. Pagaya Technologies Ltd. has a 1-year low of $8.50 and a 1-year high of $44.99. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 1.22. The stock has a market cap of $881.18 million, a P/E ratio of 12.31 and a beta of 5.92.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Monday, February 9th. The company reported $0.80 earnings per share (EPS) 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 business had revenue of $334.81 million during the quarter, compared to analyst estimates of $348.75 million. During the same quarter last year, the business earned $0.17 EPS. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. Equities research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Pagaya Technologies Profile

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.