Temasek Holdings Private Ltd Takes Position in Pagaya Technologies Ltd. $PGY

Temasek Holdings Private Ltd acquired a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) in the third quarter, Holdings Channel reports. The institutional investor acquired 144,068 shares of the company’s stock, valued at approximately $4,277,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PGY. Versant Capital Management Inc bought a new stake in Pagaya Technologies in the third quarter valued at approximately $25,000. LSV Asset Management bought a new position in Pagaya Technologies during the 3rd quarter worth approximately $36,000. State of Alaska Department of Revenue bought a new position in Pagaya Technologies during the 3rd quarter worth approximately $84,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Pagaya Technologies in the 3rd quarter worth approximately $98,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Pagaya Technologies in the 3rd quarter worth approximately $115,000. 57.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PGY has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Canaccord Genuity Group dropped their target price on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Citigroup cut their price target on shares of Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Benchmark decreased their price target on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Pagaya Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

Insider Transactions at Pagaya Technologies

In related news, CFO Evangelos Perros sold 9,750 shares of Pagaya Technologies stock in a transaction on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $224,152.50. Following the completion of the sale, the chief financial officer owned 100,212 shares of the company’s stock, valued at approximately $2,303,873.88. This trade represents a 8.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tami Rosen sold 7,561 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $30.73, for a total transaction of $232,349.53. Following the sale, the insider owned 37,544 shares of the company’s stock, valued at $1,153,727.12. This trade represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,256 shares of company stock valued at $547,198 over the last ninety days. 47.59% of the stock is owned by company insiders.

Pagaya Technologies Stock Performance

Shares of PGY opened at $10.96 on Friday. Pagaya Technologies Ltd. has a one year low of $8.50 and a one year high of $44.99. The company has a market cap of $881.18 million, a PE ratio of 12.31 and a beta of 5.92. The stock has a 50-day moving average of $16.84 and a 200-day moving average of $24.55. The company has a debt-to-equity ratio of 1.22, a current ratio of 10.55 and a quick ratio of 10.55.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings results on Monday, February 9th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The business had revenue of $334.81 million for the quarter, compared to the consensus estimate of $348.75 million. During the same period in the prior year, the business earned $0.17 EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities research analysts predict that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

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.