Geode Capital Management LLC Purchases 43,068 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Geode Capital Management LLC increased its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 7.8% during the 3rd quarter, Holdings Channel reports. The firm owned 596,992 shares of the company’s stock after acquiring an additional 43,068 shares during the period. Geode Capital Management LLC’s holdings in Pagaya Technologies were worth $6,310,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in shares of Pagaya Technologies by 48.4% in the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after acquiring an additional 3,181 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Pagaya Technologies in the 2nd quarter worth approximately $166,000. The Manufacturers Life Insurance Company bought a new position in Pagaya Technologies in the 2nd quarter worth approximately $187,000. Intech Investment Management LLC purchased a new stake in Pagaya Technologies during the 3rd quarter valued at approximately $191,000. Finally, MetLife Investment Management LLC grew its holdings in Pagaya Technologies by 161.1% during the 3rd quarter. MetLife Investment Management LLC now owns 27,232 shares of the company’s stock valued at $288,000 after buying an additional 16,804 shares in the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PGY shares. B. Riley decreased their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Oppenheimer started coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 target price on the stock. Canaccord Genuity Group cut their price target on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and set a $21.00 price objective on shares of Pagaya Technologies in a report on Wednesday, October 16th. Finally, UBS Group started coverage on Pagaya Technologies in a research report on Friday, December 20th. They set a “neutral” rating and a $11.00 target price for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.00.

Pagaya Technologies Price Performance

Shares of PGY opened at $10.41 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The company’s fifty day moving average price is $10.38 and its 200-day moving average price is $11.84. Pagaya Technologies Ltd. has a 1-year low of $8.20 and a 1-year high of $20.00. The firm has a market capitalization of $766.76 million, a PE ratio of -4.10 and a beta of 6.11.

Insider Buying and Selling

In related news, CFO Evangelos Perros sold 21,305 shares of Pagaya Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $212,410.85. Following the completion of the transaction, the chief financial officer now owns 54,029 shares in the company, valued at $538,669.13. The trade was a 28.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tami Rosen sold 21,547 shares of Pagaya Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $214,823.59. Following the completion of the sale, the insider now directly owns 73,550 shares in the company, valued at $733,293.50. This represents a 22.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,240 shares of company stock valued at $3,246,456 over the last 90 days. Insiders own 49.56% of the company’s stock.

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.