Globeflex Capital L P Acquires New Position in Pagaya Technologies Ltd. $PGY

Globeflex Capital L P bought a new position in Pagaya Technologies Ltd. (NASDAQ:PGY) in the second quarter, Holdings Channel reports. The firm bought 122,956 shares of the company’s stock, valued at approximately $2,244,000.

Several other large investors also recently bought and sold shares of PGY. Empowered Funds LLC increased its position in shares of Pagaya Technologies by 4,562.7% in the 1st quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock valued at $1,359,000 after acquiring an additional 114,159 shares during the period. SPX Gestao de Recursos Ltda raised its stake in Pagaya Technologies by 49.7% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 180,100 shares of the company’s stock worth $2,098,000 after acquiring an additional 59,800 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Pagaya Technologies during the 1st quarter worth about $1,426,000. Watershed Asset Management L.L.C. acquired a new stake in Pagaya Technologies during the 1st quarter worth about $463,000. Finally, Edgestream Partners L.P. grew its stake in Pagaya Technologies by 353.2% during the 1st quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock valued at $4,354,000 after purchasing an additional 291,291 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Insiders Place Their Bets

In other news, insider Evangelos Perros sold 11,558 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $16.23, for a total value of $187,586.34. Following the sale, the insider owned 131,241 shares in the company, valued at $2,130,041.43. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gal Krubiner bought 16,230 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were bought at an average cost of $15.43 per share, for a total transaction of $250,428.90. Following the completion of the acquisition, the chief executive officer owned 555,906 shares of the company’s stock, valued at $8,577,629.58. This trade represents a 3.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 107,560 shares of company stock worth $2,011,541. 41.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PGY. Canaccord Genuity Group increased their price objective on Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 31st. Citizens Jmp lifted their target price on Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, July 31st. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. B. Riley Financial increased their price target on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Jefferies Financial Group raised their price target on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $32.00.

Pagaya Technologies Price Performance

NASDAQ:PGY opened at $21.68 on Monday. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 11.08 and a current ratio of 11.08. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 15.94 and a beta of 5.33. The firm’s fifty day moving average is $18.21 and its two-hundred day moving average is $14.92.

Pagaya Technologies Company 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.