Pagaya Technologies Ltd. (NASDAQ:PGY) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 22.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 462,563 shares of the company's stock after selling 134,429 shares during the quarter. Geode Capital Management LLC owned 0.63% of Pagaya Technologies worth $4,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PGY. R Squared Ltd purchased a new stake in shares of Pagaya Technologies during the fourth quarter worth approximately $30,000. Nisa Investment Advisors LLC acquired a new position in Pagaya Technologies during the fourth quarter worth $57,000. KLP Kapitalforvaltning AS acquired a new position in Pagaya Technologies during the fourth quarter worth $67,000. CIBC Private Wealth Group LLC boosted its stake in Pagaya Technologies by 15.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock worth $101,000 after buying an additional 1,532 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Pagaya Technologies by 10.9% during the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company's stock worth $104,000 after buying an additional 1,092 shares during the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Pagaya Technologies Stock Down 1.7 %

Pagaya Technologies stock traded down $0.19 during trading on Monday, reaching $11.02. The stock had a trading volume of 1,134,361 shares, compared to its average volume of 1,774,168. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $19.20. The business has a 50 day moving average price of $10.98 and a 200 day moving average price of $10.69. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The stock has a market cap of $829.78 million, a PE ratio of -2.00 and a beta of 5.89.

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 the consensus estimate of $0.28 by ($0.32). The company had revenue of $279.39 million for the quarter, compared to analysts' expectations 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 in the prior year, the firm posted $0.24 EPS. On average, analysts predict that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Analyst Ratings Changes

PGY has been the topic of a number of recent research reports. Citigroup raised Pagaya Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. Canaccord Genuity Group reaffirmed 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 reaffirmed a "buy" rating and issued a $36.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Benchmark reaffirmed a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Finally, JMP Securities upped their price target on Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Two equities 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.

Insider Transactions at Pagaya Technologies

In other news, 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 transaction, the insider now directly owns 73,550 shares of the company's stock, valued at $895,839. The trade was a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction on Thursday, April 17th. The shares were 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 represents a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,004 shares of company stock worth $770,036. 49.56% of the stock is currently owned by 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.