Pagaya Technologies Ltd. (NASDAQ:PGY) Holdings Boosted by Yarra Square Partners LP

Yarra Square Partners LP grew its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 29.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 619,345 shares of the company’s stock after purchasing an additional 142,500 shares during the quarter. Pagaya Technologies makes up about 7.1% of Yarra Square Partners LP’s holdings, making the stock its 4th largest position. Yarra Square Partners LP’s holdings in Pagaya Technologies were worth $7,903,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PGY. Allspring Global Investments Holdings LLC purchased a new position in shares of Pagaya Technologies during the first quarter worth about $12,686,000. Hood River Capital Management LLC purchased a new position in shares of Pagaya Technologies during the first quarter worth about $9,265,000. Quadrature Capital Ltd purchased a new position in shares of Pagaya Technologies during the fourth quarter worth about $1,079,000. Swiss National Bank purchased a new position in shares of Pagaya Technologies during the fourth quarter worth about $658,000. Finally, Divisadero Street Capital Management LP purchased a new position in shares of Pagaya Technologies during the second quarter worth about $2,273,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY opened at $12.33 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The company has a market cap of $874.20 million, a P/E ratio of -8.74 and a beta of 6.41. Pagaya Technologies Ltd. has a 52 week low of $8.56 and a 52 week high of $20.50. The company has a 50-day moving average price of $13.41 and a 200 day moving average price of $12.27.

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

Insider Activity

In other news, CRO Yahav Yulzari sold 11,662 shares of Pagaya Technologies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.78, for a total transaction of $184,026.36. Following the completion of the sale, the executive now directly owns 288,037 shares in the company, valued at approximately $4,545,223.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CRO Yahav Yulzari sold 11,662 shares of Pagaya Technologies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.78, for a total transaction of $184,026.36. Following the completion of the sale, the executive now directly owns 288,037 shares in the company, valued at approximately $4,545,223.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tami Rosen sold 8,025 shares of Pagaya Technologies stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $14.70, for a total transaction of $117,967.50. Following the sale, the insider now owns 55,751 shares of the company’s stock, valued at $819,539.70. The disclosure for this sale can be found here. In the last three months, insiders sold 79,496 shares of company stock worth $1,133,173. Company insiders own 19.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Benchmark assumed coverage on Pagaya Technologies in a report on Monday, August 26th. They set a “buy” rating and a $21.00 price target on the stock. Wedbush reissued a “neutral” rating and set a $13.00 price target on shares of Pagaya Technologies in a report on Monday, August 12th. JMP Securities reissued a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price target on shares of Pagaya Technologies in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Pagaya Technologies in a research report on Monday, June 17th. They issued an “outperform” rating and a $23.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Pagaya Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

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.