Pagaya Technologies Ltd. (NASDAQ:PGY) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 455.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 218,549 shares of the company's stock after purchasing an additional 179,235 shares during the quarter. Millennium Management LLC owned about 0.31% of Pagaya Technologies worth $2,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in Pagaya Technologies during the 2nd quarter worth $74,000. SG Americas Securities LLC purchased a new position in shares of Pagaya Technologies in the 2nd quarter valued at $101,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Pagaya Technologies in the 2nd quarter valued at $166,000. Cubist Systematic Strategies LLC increased its holdings in shares of Pagaya Technologies by 50.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 43,813 shares of the company's stock valued at $559,000 after acquiring an additional 14,629 shares during the period. Finally, Castle Hook Partners LP purchased a new position in shares of Pagaya Technologies in the 1st quarter valued at $188,000. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Pagaya Technologies Stock Performance

Shares of PGY stock traded down $0.26 on Tuesday, hitting $10.85. The company had a trading volume of 1,199,989 shares, compared to its average volume of 1,259,457. The firm has a market cap of $769.27 million, a P/E ratio of -7.70 and a beta of 6.36. The company has a 50-day moving average price of $12.16 and a 200-day moving average price of $12.07. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. Pagaya Technologies Ltd. has a twelve month low of $8.56 and a twelve month high of $20.50.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.11). Pagaya Technologies had a negative net margin of 14.58% and a negative return on equity of 3.10%. The company had revenue of $250.34 million during the quarter, compared to analyst estimates of $239.16 million. As a group, equities research analysts predict that Pagaya Technologies Ltd. will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on PGY shares. JMP Securities restated a "market outperform" rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Canaccord Genuity Group dropped their target price on Pagaya Technologies from $42.00 to $32.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Benchmark started coverage on Pagaya Technologies in a research note on Monday, August 26th. They set a "buy" rating and a $21.00 target price on the stock. B. Riley lowered their price target on Pagaya Technologies from $48.00 to $36.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Finally, Oppenheimer started coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They set an "outperform" rating and a $12.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.89.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 8,025 shares of Pagaya Technologies stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total value of $117,967.50. Following the completion of the transaction, the insider now owns 55,751 shares in the company, valued at $819,539.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Pagaya Technologies news, CTO Avital Pardo sold 11,601 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $15.83, for a total transaction of $183,643.83. Following the completion of the sale, the chief technology officer now directly owns 433,125 shares in the company, valued at approximately $6,856,368.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tami Rosen sold 8,025 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total value of $117,967.50. Following the sale, the insider now owns 55,751 shares of the company's stock, valued at approximately $819,539.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,792 shares of company stock worth $817,717 in the last 90 days. Corporate insiders own 19.70% of the company's stock.

About Pagaya Technologies

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.