38,802 Shares in Pagaya Technologies Ltd. $PGY Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC acquired a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 38,802 shares of the company’s stock, valued at approximately $452,000.

Several other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Pagaya Technologies by 2,722.3% in the first quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock worth $3,204,000 after purchasing an additional 294,878 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Pagaya Technologies by 11.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock valued at $653,000 after buying an additional 6,365 shares during the last quarter. Millennium Management LLC boosted its position in shares of Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after buying an additional 961,944 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Pagaya Technologies by 26.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock worth $17,871,000 after buying an additional 359,099 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Pagaya Technologies by 19.0% in the 2nd quarter. Legal & General Group Plc now owns 34,909 shares of the company’s stock worth $744,000 after buying an additional 5,580 shares in the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pagaya Technologies

In related news, insider Evangelos Perros sold 11,558 shares of Pagaya Technologies stock in a transaction on Friday, June 12th. The stock was sold at an average price of $16.23, for a total transaction of $187,586.34. Following the transaction, the insider directly owned 131,241 shares in the company, valued at approximately $2,130,041.43. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 9,944 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $15.20, for a total value of $151,148.80. Following the sale, the director directly owned 37,544 shares of the company’s stock, valued at $570,668.80. This represents a 20.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 67,810 shares of company stock worth $1,070,925. Insiders own 47.59% of the company’s stock.

Pagaya Technologies Price Performance

NASDAQ PGY opened at $18.77 on Thursday. The company has a 50-day moving average price of $14.60 and a 200-day moving average price of $15.78. Pagaya Technologies Ltd. has a 52 week low of $10.40 and a 52 week high of $44.99. The company has a quick ratio of 12.09, a current ratio of 12.09 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $1.56 billion, a P/E ratio of 17.54 and a beta of 5.31.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%.The business had revenue of $91.63 million during the quarter. Equities research analysts anticipate that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on PGY shares. Zacks Research upgraded shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $32.00 price target on shares of Pagaya Technologies in a research note on Monday, May 18th. Texas Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings upgraded shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $35.86.

Pagaya Technologies Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.