Swiss National Bank Acquires 6,200 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Swiss National Bank boosted its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 8.9% during the fourth quarter, HoldingsChannel reports. The fund owned 75,583 shares of the company’s stock after purchasing an additional 6,200 shares during the quarter. Swiss National Bank’s holdings in Pagaya Technologies were worth $702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Pagaya Technologies during the fourth quarter worth $30,000. Nisa Investment Advisors LLC bought a new position in Pagaya Technologies during the 4th quarter worth $57,000. BNP Paribas Financial Markets raised its position in Pagaya Technologies by 48.4% during the 3rd 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 during the last quarter. Arizona State Retirement System lifted its holdings in Pagaya Technologies by 10.9% during the 4th 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 during the period. Finally, Entropy Technologies LP bought a new stake in shares of Pagaya Technologies in the 4th quarter valued at about $114,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PGY has been the subject of a number of analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research report on Thursday, February 13th. Citigroup upgraded shares of 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 report on Friday, February 7th. JMP Securities upped their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, UBS Group started coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Pagaya Technologies has a consensus rating of “Moderate Buy” and an average price target of $20.61.

Insider Buying and Selling

In related news, President Sanjiv Das sold 6,343 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $63,239.71. Following the sale, the president now owns 75,528 shares in the company, valued at $753,014.16. This represents a 7.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tami Rosen sold 35,369 shares of Pagaya Technologies stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total value of $530,535.00. Following the transaction, the insider now owns 38,181 shares of the company’s stock, valued at $572,715. This trade represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,692 shares of company stock valued at $1,205,379. 49.56% of the stock is owned by company insiders.

Pagaya Technologies Stock Down 7.8 %

Pagaya Technologies stock opened at $10.66 on Friday. The company has a market capitalization of $802.68 million, a PE ratio of -1.94 and a beta of 5.98. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $19.20. The firm’s fifty day moving average is $11.55 and its 200 day moving average is $10.91. 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 posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.32). The company had revenue of $279.39 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.24 earnings per share. As a group, sell-side analysts predict that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

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.