Arizona State Retirement System Buys 1,092 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Arizona State Retirement System lifted its stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,154 shares of the company’s stock after acquiring an additional 1,092 shares during the quarter. Arizona State Retirement System’s holdings in Pagaya Technologies were worth $104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position 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 acquiring an additional 127,012 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Pagaya Technologies by 4,374.9% during the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock worth $3,296,000 after purchasing an additional 304,890 shares during the period. Centiva Capital LP acquired a new stake in Pagaya Technologies during the third quarter worth approximately $617,000. IFP Advisors Inc grew its stake in Pagaya Technologies by 80.7% during the fourth quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock worth $123,000 after purchasing an additional 5,925 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Pagaya Technologies by 17.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock worth $1,184,000 after purchasing an additional 16,533 shares during the period. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Stock Up 9.2 %

Shares of NASDAQ PGY opened at $10.56 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $777.81 million, a PE ratio of -1.92 and a beta of 5.98. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $19.20. The business’s fifty day moving average price is $11.06 and its 200-day moving average price is $11.02.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The business had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. During the same period last year, the company earned $0.24 earnings per share. On average, equities research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Insider Activity

In other news, insider Tami Rosen sold 21,547 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $214,823.59. Following the completion of the transaction, the insider now directly owns 73,550 shares of the company’s stock, valued at $733,293.50. This trade represents a 22.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Evangelos Perros sold 21,305 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $212,410.85. Following the completion of the transaction, the chief financial officer now directly owns 54,029 shares of the company’s stock, valued at $538,669.13. The trade was a 28.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,692 shares of company stock valued at $1,205,379 over the last quarter. Company insiders own 49.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group assumed coverage on Pagaya Technologies in a research note on Friday, December 20th. They set a “neutral” rating and a $11.00 target price for the company. JMP Securities raised their target price on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.17.

Pagaya Technologies Company 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.