Malaga Cove Capital LLC Buys New Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

Malaga Cove Capital LLC bought a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) in the fourth quarter, Holdings Channel reports. The institutional investor bought 10,300 shares of the company’s stock, valued at approximately $96,000.

Several other hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Pagaya Technologies by 502.5% during the third quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock worth $1,610,000 after purchasing an additional 127,012 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in Pagaya Technologies in the fourth quarter valued at about $57,000. R Squared Ltd bought a new position in Pagaya Technologies in the fourth quarter valued at about $30,000. Entropy Technologies LP bought a new position in Pagaya Technologies in the fourth quarter valued at about $114,000. Finally, Rhumbline Advisers boosted its holdings in Pagaya Technologies by 14.7% in the fourth quarter. Rhumbline Advisers now owns 75,620 shares of the company’s stock valued at $703,000 after acquiring an additional 9,674 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. JMP Securities lifted their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. B. Riley reiterated a “buy” rating and set a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Pagaya Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.61.

Pagaya Technologies Trading Up 0.7%

Shares of PGY stock opened at $15.06 on Thursday. The company has a market cap of $1.13 billion, a P/E ratio of -2.74 and a beta of 5.88. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $19.20. The stock has a 50 day simple moving average of $10.92 and a two-hundred day simple moving average of $10.81. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17.

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). The company had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same period in the previous year, the firm earned $0.24 EPS. Research analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insider Activity at Pagaya Technologies

In other news, President Sanjiv Das sold 12,789 shares of the company’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total transaction of $119,577.15. Following the transaction, the president now owns 105,817 shares of the company’s stock, valued at $989,388.95. This represents a 10.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Avital Pardo sold 237,748 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,604,259.68. Following the sale, the chief technology officer now directly owns 2,401,528 shares in the company, valued at $36,407,164.48. This trade represents a 9.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 488,541 shares of company stock valued at $7,331,977 over the last 90 days. Insiders own 49.56% of the company’s stock.

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.