Ironwood Investment Management LLC Takes Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

Ironwood Investment Management LLC 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 31,044 shares of the company's stock, valued at approximately $288,000.

A number of other hedge funds have also recently made changes to their positions in PGY. R Squared Ltd acquired a new position in shares of Pagaya Technologies in the fourth quarter worth approximately $30,000. Nisa Investment Advisors LLC acquired a new position in shares of Pagaya Technologies in the fourth quarter worth approximately $57,000. BNP Paribas Financial Markets lifted its stake in shares of Pagaya Technologies by 48.4% in the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company's stock worth $103,000 after acquiring an additional 3,181 shares during the period. Arizona State Retirement System lifted its stake in shares of Pagaya Technologies by 10.9% in the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company's stock worth $104,000 after acquiring an additional 1,092 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Pagaya Technologies in the fourth quarter worth approximately $114,000. 57.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PGY has been the topic of several recent analyst reports. Citigroup raised Pagaya Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Benchmark reissued a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Monday. Canaccord Genuity Group reissued a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. B. Riley reissued a "buy" rating and issued a $36.00 price target on shares of Pagaya Technologies in a research note on Monday. Finally, UBS Group initiated coverage on Pagaya Technologies in a research note on Friday, December 20th. They issued a "neutral" rating and a $11.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.61.

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Pagaya Technologies Stock Down 1.4 %

Pagaya Technologies stock traded down $0.16 during trading on Wednesday, hitting $11.19. 1,289,506 shares of the company were exchanged, compared to its average volume of 1,708,558. The business's 50 day moving average is $11.11 and its 200 day moving average is $10.97. Pagaya Technologies Ltd. has a 52 week low of $8.20 and a 52 week high of $19.20. The company has a market capitalization of $824.21 million, a P/E ratio of -2.03 and a beta of 5.98. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82.

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

Insider Buying and Selling

In other Pagaya Technologies news, CFO Evangelos Perros sold 21,305 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $212,410.85. Following the completion of the transaction, the chief financial officer now owns 54,029 shares in the company, valued at $538,669.13. This represents a 28.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Sanjiv Das sold 6,343 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $63,239.71. Following the completion of the transaction, the president now owns 75,528 shares of the company's stock, valued at $753,014.16. This trade represents a 7.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,692 shares of company stock worth $1,205,379. 49.56% of the stock is owned by corporate 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.