Allspring Global Investments Holdings LLC Decreases Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

Allspring Global Investments Holdings LLC lessened its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 35.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 744,345 shares of the company's stock after selling 408,660 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.05% of Pagaya Technologies worth $7,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cubist Systematic Strategies LLC boosted its position in Pagaya Technologies by 50.1% in the second quarter. Cubist Systematic Strategies LLC now owns 43,813 shares of the company's stock valued at $559,000 after buying an additional 14,629 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Pagaya Technologies during the 2nd quarter valued at $187,000. Millennium Management LLC grew its position in Pagaya Technologies by 455.9% during the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company's stock worth $2,789,000 after acquiring an additional 179,235 shares during the last quarter. Yarra Square Partners LP increased its holdings in Pagaya Technologies by 29.9% in the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company's stock worth $7,903,000 after purchasing an additional 142,500 shares in the last quarter. Finally, Divisadero Street Capital Management LP bought a new position in Pagaya Technologies in the second quarter valued at about $2,273,000. Institutional investors own 57.14% of the company's stock.

Wall Street Analysts Forecast Growth

PGY has been the subject of several recent research reports. Oppenheimer began coverage on Pagaya Technologies in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $12.00 price objective for the company. Wedbush reaffirmed a "neutral" rating and set a $13.00 price target on shares of Pagaya Technologies in a research note on Monday, August 12th. Benchmark reiterated a "buy" rating and set a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 16th. JMP Securities restated a "market outperform" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Finally, Canaccord Genuity Group lowered their target price on Pagaya Technologies from $42.00 to $32.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.89.

Pagaya Technologies Trading Up 3.6 %

Shares of NASDAQ:PGY traded up $0.42 during midday trading on Friday, reaching $12.00. The company's stock had a trading volume of 1,034,058 shares, compared to its average volume of 2,416,420. The firm has a 50 day moving average price of $11.94 and a two-hundred day moving average price of $12.13. Pagaya Technologies Ltd. has a fifty-two week low of $8.56 and a fifty-two week high of $20.50. The firm has a market capitalization of $850.80 million, a price-to-earnings ratio of -8.51 and a beta of 6.36. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.50 and a current ratio of 1.50.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.11). Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. The company had revenue of $250.34 million for the quarter, compared to analyst estimates of $239.16 million. As a group, analysts forecast that Pagaya Technologies Ltd. will post -0.09 earnings per share for the current year.

Insider Activity

In related news, CTO Avital Pardo sold 11,601 shares of Pagaya Technologies stock in a transaction on Friday, August 9th. The shares were sold at an average price of $15.83, for a total value of $183,643.83. Following the completion of the sale, the chief technology officer now owns 433,125 shares of the company's stock, valued at approximately $6,856,368.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CRO Yahav Yulzari sold 11,662 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $15.78, for a total value of $184,026.36. Following the transaction, the executive now owns 288,037 shares in the company, valued at $4,545,223.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Avital Pardo sold 11,601 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.83, for a total value of $183,643.83. Following the sale, the chief technology officer now directly owns 433,125 shares of the company's stock, valued at $6,856,368.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,275 shares of company stock worth $940,334 in the last three months. Company insiders own 19.70% of the company's stock.

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.