Portolan Capital Management LLC Takes Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

Portolan Capital Management LLC acquired a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 271,776 shares of the company's stock, valued at approximately $2,525,000. Portolan Capital Management LLC owned approximately 0.37% of Pagaya Technologies at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Pagaya Technologies by 14.6% in the 3rd quarter. State Street Corp now owns 763,823 shares of the company's stock valued at $8,074,000 after purchasing an additional 97,135 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Pagaya Technologies by 310.6% in the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company's stock valued at $5,810,000 after acquiring an additional 473,063 shares during the last quarter. Geode Capital Management LLC grew its holdings in Pagaya Technologies by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 596,992 shares of the company's stock worth $6,310,000 after acquiring an additional 43,068 shares during the period. Kennedy Capital Management LLC bought a new stake in shares of Pagaya Technologies during the 4th quarter valued at $2,701,000. Finally, Federated Hermes Inc. lifted its stake in shares of Pagaya Technologies by 9.1% in the 4th quarter. Federated Hermes Inc. now owns 167,885 shares of the company's stock valued at $1,560,000 after purchasing an additional 14,072 shares during the period. 57.14% of the stock is owned by institutional investors.

Pagaya Technologies Stock Up 1.8 %

NASDAQ PGY traded up $0.17 during trading on Friday, hitting $9.46. The stock had a trading volume of 1,300,520 shares, compared to its average volume of 1,765,019. Pagaya Technologies Ltd. has a 12 month low of $8.20 and a 12 month high of $19.20. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The company's 50-day moving average price is $11.49 and its two-hundred day moving average price is $10.69. The company has a market capitalization of $711.94 million, a PE ratio of -1.72 and a beta of 5.89.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32). The business had revenue of $279.39 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.24 EPS. As a group, sell-side analysts forecast that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PGY shares. Benchmark reissued a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. B. Riley reissued a "buy" rating and issued a $36.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Citigroup raised Pagaya Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. UBS Group began coverage on Pagaya Technologies in a research report on Friday, December 20th. They issued a "neutral" rating and a $11.00 price objective for the company. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.61.

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.