Pagaya Technologies Ltd. $PGY Shares Newly Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC purchased a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,297,228 shares of the company’s stock, valued at approximately $39,788,000.

A number of other institutional investors also recently modified their holdings of PGY. First Bancorp Inc ME acquired a new position in shares of Pagaya Technologies during the second quarter worth about $36,000. Integrated Wealth Concepts LLC bought a new position in shares of Pagaya Technologies during the second quarter worth about $37,000. Allworth Financial LP grew its holdings in shares of Pagaya Technologies by 300.4% during the second quarter. Allworth Financial LP now owns 3,592 shares of the company’s stock worth $66,000 after buying an additional 2,695 shares in the last quarter. GK Wealth Management LLC bought a new position in shares of Pagaya Technologies during the third quarter worth about $67,000. Finally, State of Wyoming raised its position in Pagaya Technologies by 150.3% in the 1st quarter. State of Wyoming now owns 6,532 shares of the company’s stock valued at $76,000 after buying an additional 3,922 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on PGY. B. Riley Financial restated a “buy” rating and issued a $38.00 target price (up from $36.00) on shares of Pagaya Technologies in a research note on Friday, October 30th. Citizens Jmp upped their price target on Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, July 31st. Jefferies Financial Group raised their price target on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. TD Cowen lifted their price objective on shares of Pagaya Technologies from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, October 30th. Finally, Canaccord Genuity Group lifted their price objective on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $31.62.

Pagaya Technologies Price Performance

NASDAQ:PGY remained flat at $16.87 on Friday. 1,219,092 shares of the company’s stock traded hands, compared to its average volume of 1,927,802. The business has a 50 day simple moving average of $18.86 and a 200-day simple moving average of $16.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 11.59 and a current ratio of 11.59. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $26.80. The stock has a market capitalization of $1.42 billion, a P/E ratio of 10.22 and a beta of 5.67.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.60. The company had revenue of $390.49 million during the quarter, compared to the consensus estimate of $382.10 million. Pagaya Technologies had a net margin of 10.77% and a return on equity of 51.21%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 EPS. On average, research analysts expect that Pagaya Technologies Ltd. will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Tami Rosen sold 1,986 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $17.83, for a total transaction of $35,410.38. Following the completion of the transaction, the director directly owned 13,414 shares of the company’s stock, valued at approximately $239,171.62. This represents a 12.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Cory Vieira sold 2,170 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $17.04, for a total value of $36,976.80. Following the completion of the transaction, the chief accounting officer owned 25,160 shares of the company’s stock, valued at approximately $428,726.40. This represents a 7.94% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 48,647 shares of company stock worth $931,283. Corporate insiders own 41.99% of the company’s stock.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd. is a financial technology company that provides artificial intelligence and data analytics tools to banks, lenders and other financial institutions. Its technology helps partners evaluate consumer credit applications and connect approved borrowers with funding from institutional investors. The company’s network supports lending products such as personal loans, auto loans and point-of-sale financing. Pagaya works with its partners to help expand their lending capacity while providing investors with access to credit-related assets.