Globeflex Capital L P Sells 34,341 Shares of Pagaya Technologies Ltd. $PGY

Globeflex Capital L P lowered its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 24.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,765 shares of the company’s stock after selling 34,341 shares during the quarter. Globeflex Capital L P owned 0.13% of Pagaya Technologies worth $1,221,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State of Wyoming boosted its position in shares of Pagaya Technologies by 150.3% during the 1st quarter. State of Wyoming now owns 6,532 shares of the company’s stock worth $76,000 after purchasing an additional 3,922 shares in the last quarter. Cetera Investment Advisers increased its position in Pagaya Technologies by 98.6% in the 1st quarter. Cetera Investment Advisers now owns 24,016 shares of the company’s stock valued at $280,000 after buying an additional 11,921 shares in the last quarter. Meeder Asset Management Inc. increased its position in Pagaya Technologies by 1,274.8% in the 1st quarter. Meeder Asset Management Inc. now owns 7,080 shares of the company’s stock valued at $82,000 after buying an additional 6,565 shares in the last quarter. SPX Gestao de Recursos Ltda raised its stake in Pagaya Technologies by 49.7% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 180,100 shares of the company’s stock worth $2,098,000 after buying an additional 59,800 shares during the period. Finally, Watershed Asset Management L.L.C. acquired a new position in Pagaya Technologies during the 1st quarter worth approximately $463,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Insider Activity at Pagaya Technologies

In related news, CAO Cory Vieira sold 2,140 shares of Pagaya Technologies stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total value of $32,121.40. Following the sale, the chief accounting officer owned 18,179 shares of the company’s stock, valued at approximately $272,866.79. The trade was a 10.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $15.20, for a total value of $151,148.80. Following the completion of the transaction, the director owned 37,544 shares in the company, valued at approximately $570,668.80. The trade was a 20.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 58,090 shares of company stock worth $923,764 over the last 90 days. Corporate insiders own 41.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research note on Monday, May 18th. Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings raised shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Pagaya Technologies presently has a consensus rating of “Buy” and an average target price of $35.86.

Pagaya Technologies Price Performance

Pagaya Technologies stock opened at $16.86 on Thursday. The company’s 50 day moving average price is $15.70 and its two-hundred day moving average price is $15.31. The company has a quick ratio of 12.09, a current ratio of 12.09 and a debt-to-equity ratio of 1.25. Pagaya Technologies Ltd. has a 52 week low of $10.40 and a 52 week high of $44.99. The stock has a market cap of $1.40 billion, a P/E ratio of 15.76 and a beta of 5.32.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. The business had revenue of $91.63 million for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. On average, equities analysts predict that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

About Pagaya Technologies

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.