MetLife Investment Management LLC Buys 16,804 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

MetLife Investment Management LLC raised its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 161.1% during the third quarter, HoldingsChannel.com reports. The fund owned 27,232 shares of the company’s stock after acquiring an additional 16,804 shares during the quarter. MetLife Investment Management LLC’s holdings in Pagaya Technologies were worth $288,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PGY. nVerses Capital LLC bought a new stake in Pagaya Technologies in the second quarter valued at $74,000. SG Americas Securities LLC acquired a new position in Pagaya Technologies in the second quarter worth $101,000. BNP Paribas Financial Markets boosted 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 worth $103,000 after purchasing an additional 3,181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Pagaya Technologies in the second quarter worth $166,000. Finally, The Manufacturers Life Insurance Company boosted its stake 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 purchasing an additional 1,937 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Stock Down 0.3 %

Shares of Pagaya Technologies stock opened at $10.20 on Monday. Pagaya Technologies Ltd. has a 1 year low of $8.20 and a 1 year high of $20.50. The business has a 50-day moving average of $10.90 and a two-hundred day moving average of $12.18. The company has a market capitalization of $751.33 million, a P/E ratio of -4.02 and a beta of 6.11. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Analysts Set New Price Targets

A number of equities analysts have commented on PGY shares. Benchmark reissued a “buy” rating and issued a $21.00 price objective on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Oppenheimer started coverage on Pagaya Technologies in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price objective on the stock. B. Riley reduced their price objective on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Canaccord Genuity Group cut their price target on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Insiders Place Their Bets

In related news, President Sanjiv Das sold 10,683 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $11.77, for a total transaction of $125,738.91. Following the completion of the transaction, the president now directly owns 64,794 shares in the company, valued at approximately $762,625.38. This trade represents a 14.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tami Rosen sold 17,570 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.06, for a total value of $211,894.20. Following the transaction, the insider now owns 73,516 shares of the company’s stock, valued at approximately $886,602.96. The trade was a 19.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,045 shares of company stock worth $2,755,982 over the last ninety days. 49.56% of the stock is currently owned by corporate insiders.

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.