Globeflex Capital L P Sells 43,887 Shares of Pagaya Technologies Ltd. $PGY

Globeflex Capital L P cut its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 24.0% during the fourth quarter, Holdings Channel reports. The fund owned 139,106 shares of the company’s stock after selling 43,887 shares during the period. Globeflex Capital L P’s holdings in Pagaya Technologies were worth $2,907,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. LSV Asset Management bought a new stake in Pagaya Technologies during the 3rd quarter worth approximately $36,000. Root Financial Partners LLC bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $27,000. RiverPark Advisors LLC acquired a new position in Pagaya Technologies during the 3rd quarter worth $115,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Pagaya Technologies by 1,386.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,983 shares of the company’s stock worth $83,000 after buying an additional 3,715 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new position in Pagaya Technologies during the 4th quarter worth $87,000. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Stock Up 10.7%

NASDAQ:PGY opened at $15.46 on Friday. The stock’s fifty day moving average price is $13.39 and its two-hundred day moving average price is $16.84. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 14.45 and a beta of 5.35.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. The company had revenue of $91.63 million during the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. On average, analysts anticipate that Pagaya Technologies Ltd. will post 2.92 EPS for the current year.

Analyst Ratings Changes

PGY has been the topic of several research reports. Jefferies Financial Group reduced their price objective on Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Weiss Ratings downgraded Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Citigroup reduced their price objective on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Benchmark reduced their price objective on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Pagaya Technologies in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $33.11.

Insider Buying and Selling

In other news, President Sanjiv Das sold 9,702 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $10.99, for a total value of $106,624.98. Following the transaction, the president owned 144,034 shares of the company’s stock, valued at $1,582,933.66. This represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Cory Vieira sold 2,140 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total value of $32,121.40. Following the completion of the transaction, the chief accounting officer directly owned 18,179 shares in the company, valued at approximately $272,866.79. This trade represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 48,896 shares of company stock worth $590,859. Company insiders own 47.59% of the company’s stock.

Pagaya Technologies Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.