ExodusPoint Capital Management LP Takes $312,000 Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

ExodusPoint Capital Management LP purchased a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 33,612 shares of the company's stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in shares of Pagaya Technologies by 10.9% during the 4th quarter. Arizona State Retirement System now owns 11,154 shares of the company's stock worth $104,000 after purchasing an additional 1,092 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Pagaya Technologies by 15.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock worth $101,000 after buying an additional 1,532 shares during the last quarter. Tidal Investments LLC raised its position in Pagaya Technologies by 4.6% in the third quarter. Tidal Investments LLC now owns 41,322 shares of the company's stock worth $437,000 after acquiring an additional 1,826 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Pagaya Technologies by 13.2% in the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company's stock valued at $176,000 after acquiring an additional 1,937 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Pagaya Technologies by 48.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company's stock valued at $103,000 after acquiring an additional 3,181 shares during the period. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Pagaya Technologies Price Performance

NASDAQ:PGY traded up $0.17 during mid-day trading on Friday, hitting $9.46. 1,300,520 shares of the stock traded hands, compared to its average volume of 1,767,291. The business's 50-day moving average price is $11.46 and its 200 day moving average price is $10.68. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The company has a market cap of $711.94 million, a PE ratio of -1.72 and a beta of 5.89. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $19.20.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32). The firm had revenue of $279.39 million for the quarter, compared to analysts' expectations of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same quarter last year, the firm earned $0.24 earnings per share. On average, analysts expect that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Sanjiv Das sold 12,789 shares of Pagaya Technologies stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total transaction of $119,577.15. Following the completion of the sale, the president now directly owns 105,817 shares of the company's stock, valued at approximately $989,388.95. The trade was a 10.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tami Rosen sold 35,369 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the transaction, the insider now owns 38,181 shares of the company's stock, valued at $572,715. This trade represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,004 shares of company stock worth $770,036 over the last ninety days. 49.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group initiated coverage on Pagaya Technologies in a report on Friday, December 20th. They set a "neutral" rating and a $11.00 price objective for the company. Canaccord Genuity Group reissued a "buy" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities upped their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. B. Riley reiterated a "buy" rating and issued a $36.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Finally, Benchmark reissued a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Pagaya Technologies has an average rating of "Moderate Buy" and an average target price of $20.61.

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.