JPMorgan Chase & Co. Increases Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

JPMorgan Chase & Co. grew its position in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 310.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 625,351 shares of the company's stock after purchasing an additional 473,063 shares during the quarter. JPMorgan Chase & Co. owned about 0.85% of Pagaya Technologies worth $5,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PGY. BNP Paribas Financial Markets grew its holdings in 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 purchasing an additional 3,181 shares during the last quarter. State Street Corp grew its holdings in shares of Pagaya Technologies by 14.6% during the third quarter. State Street Corp now owns 763,823 shares of the company's stock valued at $8,074,000 after buying an additional 97,135 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Pagaya Technologies by 7.8% during the third quarter. Geode Capital Management LLC now owns 596,992 shares of the company's stock valued at $6,310,000 after buying an additional 43,068 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Pagaya Technologies during the third quarter valued at $223,000. Finally, Tidal Investments LLC grew its holdings in shares of Pagaya Technologies by 4.6% during the third quarter. Tidal Investments LLC now owns 41,322 shares of the company's stock valued at $437,000 after buying an additional 1,826 shares during the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 35,369 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total value of $530,535.00. Following the completion of the sale, the insider now owns 38,181 shares in the company, valued at approximately $572,715. This represents a 48.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Sanjiv Das sold 12,789 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total transaction of $119,577.15. Following the completion of the transaction, the president now directly owns 105,817 shares in the company, valued at $989,388.95. This trade represents a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,004 shares of company stock valued at $770,036 over the last 90 days. Corporate insiders own 49.56% of the company's stock.

Pagaya Technologies Price Performance

Shares of Pagaya Technologies stock traded up $1.08 during trading hours on Wednesday, reaching $10.46. The stock had a trading volume of 725,191 shares, compared to its average volume of 1,759,806. The stock's 50 day moving average is $11.29 and its 200 day moving average is $10.67. The firm has a market capitalization of $787.62 million, a PE ratio of -1.90 and a beta of 5.89. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $19.20. 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 issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32). The firm had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. During the same quarter last year, the company posted $0.24 EPS. Equities analysts expect that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities boosted their target price on shares of 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 boosted their target price for the company from $13.00 to $14.50 in a research report on Friday, February 7th. Benchmark restated a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, B. Riley restated a "buy" rating and set a $36.00 target price 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 issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.61.

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.