Jump Financial LLC Purchases 43,049 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Jump Financial LLC grew its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 55.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,047 shares of the company's stock after purchasing an additional 43,049 shares during the quarter. Jump Financial LLC owned about 0.16% of Pagaya Technologies worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Pagaya Technologies by 14.6% in the third quarter. State Street Corp now owns 763,823 shares of the company's stock worth $8,074,000 after acquiring an additional 97,135 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Pagaya Technologies by 310.6% during the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company's stock valued at $5,810,000 after buying an additional 473,063 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Pagaya Technologies by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 596,992 shares of the company's stock worth $6,310,000 after acquiring an additional 43,068 shares during the last quarter. Kennedy Capital Management LLC bought a new position in Pagaya Technologies in the 4th quarter valued at about $2,701,000. Finally, Portolan Capital Management LLC acquired a new position in Pagaya Technologies during the 4th quarter valued at about $2,525,000. 57.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PGY has been the topic of several analyst reports. JMP Securities lifted their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. Citigroup upgraded shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and increased their target price for the company from $13.00 to $14.50 in a report on Friday, February 7th. Benchmark reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Canaccord Genuity Group restated a "buy" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Thursday, February 13th. Finally, B. Riley reaffirmed a "buy" rating and set a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Pagaya Technologies presently has an average rating of "Moderate Buy" and an average target price of $20.61.

Pagaya Technologies Stock Performance

NASDAQ:PGY traded up $0.30 on Friday, reaching $11.21. 1,056,467 shares of the company's stock were exchanged, compared to its average volume of 1,770,335. The stock has a fifty day simple moving average of $11.10 and a 200-day simple moving average of $10.67. Pagaya Technologies Ltd. has a 52 week low of $8.20 and a 52 week high of $19.20. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $843.71 million, a price-to-earnings ratio of -2.03 and a beta of 5.89.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32). The business had revenue of $279.39 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.24 EPS. As a group, sell-side analysts predict that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Sanjiv Das sold 12,789 shares of the company's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the transaction, the president now owns 105,817 shares of the company's stock, valued at approximately $989,388.95. This represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tami Rosen sold 9,846 shares of Pagaya Technologies stock in a transaction on Friday, February 7th. The shares were sold at an average price of $12.18, for a total value of $119,924.28. Following the sale, the insider now directly owns 73,550 shares of the company's stock, valued at $895,839. This represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,004 shares of company stock worth $770,036 in the last quarter. 49.56% of the stock is owned by company insiders.

Pagaya Technologies Company 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.