Scotia Capital Inc. Makes New Investment in Pagaya Technologies Ltd. (NASDAQ:PGY)

Scotia Capital Inc. purchased a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 30,220 shares of the company's stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 473,063 shares in the last quarter. State Street Corp raised its position 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 worth $8,074,000 after acquiring an additional 97,135 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 acquiring an additional 43,068 shares during the period. American Century Companies Inc. bought a new position in Pagaya Technologies in the fourth quarter valued at about $382,000. Finally, ExodusPoint Capital Management LP acquired a new stake in Pagaya Technologies in the fourth quarter worth about $312,000. Institutional investors and hedge funds own 57.14% of the company's stock.

Pagaya Technologies Stock Down 3.0 %

Shares of NASDAQ PGY traded down $0.28 during midday trading on Monday, reaching $9.17. The company's stock had a trading volume of 217,599 shares, compared to its average volume of 1,764,603. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $19.20. The stock has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $10.69. The stock has a market capitalization of $690.41 million, a price-to-earnings ratio of -1.67 and a beta of 5.89. 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 released its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32). The company had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same period in the prior year, the firm posted $0.24 EPS. Equities research analysts predict that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Tami Rosen sold 35,369 shares of Pagaya Technologies stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the sale, the insider now owns 38,181 shares of the company's stock, valued at approximately $572,715. The trade was a 48.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Sanjiv Das sold 12,789 shares of the business'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 value of $119,577.15. Following the sale, the president now owns 105,817 shares of the company's stock, valued at approximately $989,388.95. This represents a 10.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,004 shares of company stock worth $770,036. Insiders own 49.56% of the company's stock.

Analyst Upgrades and Downgrades

PGY has been the topic of several recent research reports. Benchmark reaffirmed a "buy" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. B. Riley reiterated a "buy" rating and issued a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. JMP Securities lifted their price target on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Citigroup raised Pagaya Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a report 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.