Nicholas Wealth LLC. Takes $965,000 Position in Pagaya Technologies Ltd. $PGY

Nicholas Wealth LLC. acquired a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 46,151 shares of the company’s stock, valued at approximately $965,000. Nicholas Wealth LLC. owned approximately 0.06% of Pagaya Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in Pagaya Technologies by 1,231.6% during the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after buying an additional 1,110,208 shares in the last quarter. Millennium Management LLC grew its holdings in Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after buying an additional 961,944 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Pagaya Technologies by 221.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company’s stock worth $28,833,000 after buying an additional 950,443 shares in the last quarter. Marshall Wace LLP grew its holdings in Pagaya Technologies by 1,556.3% during the third quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock worth $19,952,000 after buying an additional 631,435 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Pagaya Technologies by 113.1% during the third quarter. American Century Companies Inc. now owns 1,094,799 shares of the company’s stock worth $32,505,000 after buying an additional 581,017 shares in the last quarter. Institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Stock Down 0.4%

PGY stock opened at $15.61 on Wednesday. The stock’s fifty day simple moving average is $13.97 and its two-hundred day simple moving average is $16.43. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. Pagaya Technologies Ltd. has a 1-year low of $10.40 and a 1-year high of $44.99. The stock has a market cap of $1.29 billion, a P/E ratio of 14.59 and a beta of 5.35.

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

Wall Street Analysts Forecast Growth

PGY has been the subject of several recent research reports. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $32.00 price target on shares of Pagaya Technologies in a report on Monday, May 18th. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Finally, Weiss Ratings downgraded Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Pagaya Technologies presently has a consensus rating of “Buy” and an average price target of $34.50.

Insiders Place Their Bets

In other Pagaya Technologies news, CAO Cory Vieira sold 2,140 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.01, for a total value of $32,121.40. Following the transaction, the chief accounting officer owned 18,179 shares of the company’s stock, valued at approximately $272,866.79. The trade was a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 9,720 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $15.14, for a total value of $147,160.80. Following the completion of the transaction, the director directly owned 37,544 shares in the company, valued at approximately $568,416.16. This represents a 20.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 55,412 shares of company stock worth $822,542 in the last ninety days. Company insiders own 47.59% of the company’s stock.

About Pagaya Technologies

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.