Intech Investment Management LLC Decreases Holdings in Pagaya Technologies Ltd. $PGY

Intech Investment Management LLC cut its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 32.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 20,975 shares of the company’s stock after selling 9,998 shares during the quarter. Intech Investment Management LLC’s holdings in Pagaya Technologies were worth $447,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Pagaya Technologies in the second quarter valued at about $318,000. Police & Firemen s Retirement System of New Jersey boosted its holdings in Pagaya Technologies by 17.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,752 shares of the company’s stock worth $208,000 after acquiring an additional 1,468 shares during the period. Geode Capital Management LLC grew its position in Pagaya Technologies by 19.9% in the second quarter. Geode Capital Management LLC now owns 567,147 shares of the company’s stock valued at $12,090,000 after acquiring an additional 93,962 shares in the last quarter. Fox Run Management L.L.C. raised its stake in shares of Pagaya Technologies by 1.9% during the second quarter. Fox Run Management L.L.C. now owns 50,587 shares of the company’s stock valued at $1,079,000 after purchasing an additional 919 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of Pagaya Technologies during the second quarter worth $218,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $24.96 on Friday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -9.35 and a beta of 5.83. Pagaya Technologies Ltd. has a one year low of $8.27 and a one year high of $44.99. The company’s 50-day simple moving average is $27.81 and its 200-day simple moving average is $27.01. The company has a debt-to-equity ratio of 1.16, a quick ratio of 11.41 and a current ratio of 11.41.

Insider Transactions at Pagaya Technologies

In other news, President Sanjiv Das sold 13,304 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $40.62, for a total value of $540,408.48. Following the completion of the sale, the president directly owned 96,885 shares in the company, valued at approximately $3,935,468.70. The trade was a 12.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Evangelos Perros sold 14,356 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $37.34, for a total value of $536,053.04. Following the sale, the chief financial officer directly owned 59,079 shares in the company, valued at approximately $2,206,009.86. This represents a 19.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 95,081 shares of company stock worth $3,475,010. 47.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PGY. Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods lifted their target price on Pagaya Technologies from $27.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Wall Street Zen upgraded Pagaya Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Finally, JMP Securities lifted their price objective on Pagaya Technologies from $26.00 to $35.00 and gave the stock a “market outperform” rating in a report on Monday, August 11th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.67.

About Pagaya Technologies

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.