Pagaya Technologies Ltd. $PGY Shares Sold by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd decreased its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 98.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,125 shares of the company’s stock after selling 700,000 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Pagaya Technologies were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PGY. Versant Capital Management Inc purchased a new position in shares of Pagaya Technologies during the third quarter worth approximately $25,000. LSV Asset Management acquired a new stake in Pagaya Technologies during the 3rd quarter worth $36,000. State of Alaska Department of Revenue acquired a new stake in Pagaya Technologies during the 3rd quarter worth $84,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Pagaya Technologies during the 3rd quarter worth $98,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Pagaya Technologies by 177.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,561 shares of the company’s stock valued at $140,000 after buying an additional 4,199 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Trading Down 9.8%

Shares of PGY stock opened at $11.19 on Friday. The stock has a market cap of $899.68 million, a P/E ratio of 12.57 and a beta of 5.85. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.16. Pagaya Technologies Ltd. has a fifty-two week low of $8.50 and a fifty-two week high of $44.99. The business has a fifty day simple moving average of $18.96 and a 200-day simple moving average of $26.02.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Monday, February 9th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.75 by $0.05. Pagaya Technologies had a net margin of 6.25% and a return on equity of 45.94%. The business had revenue of $334.81 million for the quarter, compared to analyst estimates of $348.75 million. During the same period in the previous year, the firm earned $0.17 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PGY has been the topic of a number of research reports. Wall Street Zen lowered Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Canaccord Genuity Group lowered their target price on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Citigroup cut their price target on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Freedom Capital raised Pagaya Technologies to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, January 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.11.

Insider Activity

In other news, insider Tami Rosen sold 7,561 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $30.73, for a total value of $232,349.53. Following the sale, the insider directly owned 37,544 shares in the company, valued at $1,153,727.12. This represents a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Sanjiv Das sold 3,945 shares of Pagaya Technologies stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $90,695.55. Following the transaction, the president owned 129,986 shares of the company’s stock, valued at $2,988,378.14. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,256 shares of company stock worth $547,198 over the last ninety days. 47.59% of the stock is currently owned by insiders.

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.