Point72 Asset Management L.P. Increases Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

Point72 Asset Management L.P. raised its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 4,374.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 311,859 shares of the company's stock after acquiring an additional 304,890 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.43% of Pagaya Technologies worth $3,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of Pagaya Technologies in the second quarter valued at about $74,000. SG Americas Securities LLC bought a new position in Pagaya Technologies in the 2nd quarter worth approximately $101,000. BNP Paribas Financial Markets raised its position in shares of Pagaya Technologies by 48.4% during the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company's stock valued at $103,000 after buying an additional 3,181 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Pagaya Technologies in the second quarter worth $166,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Pagaya Technologies by 13.2% during the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company's stock worth $176,000 after acquiring an additional 1,937 shares during the last quarter. Institutional investors own 57.14% of the company's stock.

Analysts Set New Price Targets

PGY has been the topic of a number of research reports. Canaccord Genuity Group reduced their price target on shares of Pagaya Technologies from $32.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. B. Riley dropped their price target on Pagaya Technologies from $48.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Oppenheimer initiated coverage on Pagaya Technologies in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $12.00 price objective on the stock. Wedbush reiterated a "neutral" rating and set a $13.00 target price on shares of Pagaya Technologies in a research report on Monday, August 12th. Finally, JMP Securities restated a "market outperform" rating and issued a $25.00 price target on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Two equities research 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, Pagaya Technologies has an average rating of "Moderate Buy" and a consensus price target of $22.11.

Pagaya Technologies Trading Down 2.9 %

PGY traded down $0.30 on Tuesday, reaching $9.95. 837,856 shares of the company traded hands, compared to its average volume of 1,407,035. The company has a market cap of $732.92 million, a P/E ratio of -4.04 and a beta of 6.12. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $20.50. The firm has a fifty day simple moving average of $10.89 and a two-hundred day simple moving average of $12.17.

Insider Activity

In other Pagaya Technologies news, insider Tami Rosen sold 7,659 shares of Pagaya Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $12.00, for a total value of $91,908.00. Following the transaction, the insider now owns 65,857 shares in the company, valued at $790,284. The trade was a 10.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yahav Yulzari purchased 23,600 shares of the firm's stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $10.52 per share, with a total value of $248,272.00. Following the completion of the transaction, the insider now owns 311,637 shares of the company's stock, valued at approximately $3,278,421.24. The trade was a 8.19 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 186,045 shares of company stock valued at $2,755,982. Corporate insiders own 49.56% 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.