Integrated Quantitative Investments LLC Takes $257,000 Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

Integrated Quantitative Investments LLC purchased a new position in Pagaya Technologies Ltd. (NASDAQ:PGY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,656 shares of the company’s stock, valued at approximately $257,000.

Other large investors also recently modified their holdings of the company. Arizona State Retirement System grew its position in Pagaya Technologies by 10.9% during the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock worth $104,000 after buying an additional 1,092 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Pagaya Technologies by 15.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock valued at $101,000 after buying an additional 1,532 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Pagaya Technologies by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 41,322 shares of the company’s stock worth $437,000 after acquiring an additional 1,826 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Pagaya Technologies by 13.2% in the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock worth $176,000 after acquiring an additional 1,937 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Pagaya Technologies by 48.4% in the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock valued at $103,000 after acquiring an additional 3,181 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Price Performance

Shares of Pagaya Technologies stock opened at $9.60 on Friday. The company has a market cap of $722.86 million, a PE ratio of -1.75 and a beta of 5.89. The business has a 50 day moving average of $11.66 and a 200 day moving average of $10.83. Pagaya Technologies Ltd. has a 52 week low of $8.20 and a 52 week high of $19.20. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The firm had revenue of $279.39 million during the quarter, compared to the consensus estimate of $264.28 million. During the same period in the prior year, the company posted $0.24 EPS. As a group, equities research analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insider Buying and Selling at Pagaya Technologies

In other news, President Sanjiv Das sold 7,282 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $64,445.70. Following the sale, the president now owns 91,163 shares in the company, valued at $806,792.55. This represents a 7.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tami Rosen sold 9,846 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $12.18, for a total transaction of $119,924.28. Following the sale, the insider now directly owns 73,550 shares of the company’s stock, valued at $895,839. This trade represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,497 shares of company stock valued at $714,905. 49.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. JMP Securities boosted their price target on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. UBS Group assumed coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They set a “neutral” rating and a $11.00 price target for the company. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $14.50 in a report on Friday, February 7th. Finally, B. Riley reissued a “buy” rating and set a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Pagaya Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $20.61.

Pagaya Technologies Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.