Pagaya Technologies Ltd. (NASDAQ:PGY) Stock Position Boosted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 50.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 43,813 shares of the company’s stock after acquiring an additional 14,629 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Pagaya Technologies were worth $559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company bought a new position in Pagaya Technologies in the 2nd quarter valued at about $187,000. Millennium Management LLC grew its position in Pagaya Technologies by 455.9% in the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock valued at $2,789,000 after buying an additional 179,235 shares in the last quarter. Yarra Square Partners LP grew its position in Pagaya Technologies by 29.9% in the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock valued at $7,903,000 after buying an additional 142,500 shares in the last quarter. Divisadero Street Capital Management LP bought a new position in Pagaya Technologies in the 2nd quarter valued at about $2,273,000. Finally, Rhumbline Advisers bought a new position in Pagaya Technologies in the 2nd quarter valued at about $781,000. Institutional investors own 57.14% of the company’s stock.

Insider Transactions at Pagaya Technologies

In other news, CRO Yahav Yulzari sold 11,662 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.78, for a total value of $184,026.36. Following the completion of the sale, the executive now directly owns 288,037 shares of the company’s stock, valued at $4,545,223.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CRO Yahav Yulzari sold 11,662 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.78, for a total value of $184,026.36. Following the completion of the sale, the executive now directly owns 288,037 shares of the company’s stock, valued at $4,545,223.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tami Rosen sold 8,025 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total transaction of $117,967.50. Following the completion of the sale, the insider now directly owns 55,751 shares of the company’s stock, valued at $819,539.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,453 shares of company stock valued at $973,545 over the last three months. 19.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PGY. B. Riley cut their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. JMP Securities reissued a “market outperform” rating and issued a $25.00 price target on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Canaccord Genuity Group cut their price target on shares of Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating for the company in a report on Monday, September 30th. Oppenheimer began coverage on shares of Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target for the company. Finally, Keefe, Bruyette & Woods began coverage on shares of Pagaya Technologies in a report on Monday, June 17th. They issued an “outperform” rating and a $23.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.89.

Pagaya Technologies Price Performance

PGY stock opened at $10.78 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.72. Pagaya Technologies Ltd. has a one year low of $8.56 and a one year high of $20.50. The firm has a market capitalization of $764.30 million, a PE ratio of -7.65 and a beta of 6.36. The firm has a 50-day moving average of $12.20 and a two-hundred day moving average of $12.03.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.11). The company had revenue of $250.34 million during the quarter, compared to analysts’ expectations of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. On average, analysts forecast that Pagaya Technologies Ltd. will post -0.15 earnings per share for the current year.

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.