Divisadero Street Capital Management LP Invests $2.27 Million in Pagaya Technologies Ltd. (NASDAQ:PGY)

Divisadero Street Capital Management LP acquired a new position in Pagaya Technologies Ltd. (NASDAQ:PGY) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 178,122 shares of the company’s stock, valued at approximately $2,273,000. Divisadero Street Capital Management LP owned approximately 0.25% of Pagaya Technologies as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in shares of Pagaya Technologies in the fourth quarter valued at $1,079,000. Swiss National Bank acquired a new position in Pagaya Technologies in the 4th quarter valued at about $658,000. Allspring Global Investments Holdings LLC purchased a new position in Pagaya Technologies in the 1st quarter valued at about $12,686,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Pagaya Technologies by 14.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock valued at $6,818,000 after purchasing an additional 83,913 shares in the last quarter. Finally, ARK Investment Management LLC boosted its stake in shares of Pagaya Technologies by 36.2% during the 2nd quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock worth $2,830,000 after purchasing an additional 58,939 shares during the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Evangelos Perros sold 11,293 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $12.15, for a total transaction of $137,209.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Evangelos Perros sold 11,293 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $12.15, for a total transaction of $137,209.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tami Rosen sold 8,025 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total value of $117,967.50. Following the completion of the transaction, the insider now owns 55,751 shares of the company’s stock, valued at approximately $819,539.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,496 shares of company stock valued at $1,133,173. Company insiders own 19.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PGY shares. Keefe, Bruyette & Woods initiated coverage on shares of Pagaya Technologies in a research report on Monday, June 17th. They set an “outperform” rating and a $23.00 target price on the stock. Citigroup assumed coverage on Pagaya Technologies in a research report on Friday, May 24th. They issued a “neutral” rating and a $14.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Wedbush reissued a “neutral” rating and issued a $13.00 price target on shares of Pagaya Technologies in a research note on Monday, August 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Pagaya Technologies Price Performance

PGY stock opened at $12.55 on Friday. The company has a market cap of $889.80 million, a PE ratio of -8.90 and a beta of 6.41. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $13.43 and a two-hundred day moving average price of $12.31. Pagaya Technologies Ltd. has a 12-month low of $8.56 and a 12-month high of $21.84.

Pagaya Technologies (NASDAQ:PGY) last issued its 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 firm had revenue of $250.34 million for 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%. As a group, research analysts predict that Pagaya Technologies Ltd. will post -0.11 EPS for the current 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.