Fmr LLC Raises Stock Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

Fmr LLC raised its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 8.3% during the 3rd quarter, Holdings Channel reports. The firm owned 524,570 shares of the company’s stock after buying an additional 40,031 shares during the quarter. Fmr LLC’s holdings in Pagaya Technologies were worth $5,545,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in Pagaya Technologies by 13.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock worth $176,000 after buying an additional 1,937 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Pagaya Technologies by 17.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock valued at $1,184,000 after purchasing an additional 16,533 shares during the period. Intech Investment Management LLC purchased a new stake in Pagaya Technologies in the third quarter valued at $191,000. GSA Capital Partners LLP acquired a new stake in Pagaya Technologies during the 3rd quarter worth about $374,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Pagaya Technologies by 50.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 43,813 shares of the company’s stock valued at $559,000 after buying an additional 14,629 shares during the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

Pagaya Technologies Trading Down 3.2 %

Shares of Pagaya Technologies stock opened at $9.48 on Friday. Pagaya Technologies Ltd. has a 1-year low of $8.20 and a 1-year high of $20.50. 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 stock has a market cap of $698.26 million, a P/E ratio of -3.73 and a beta of 6.12. The stock’s 50 day simple moving average is $10.87 and its 200-day simple moving average is $12.12.

Analysts Set New Price Targets

Several analysts recently commented on PGY shares. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 target price on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Canaccord Genuity Group cut their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. B. Riley lowered their price target on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Oppenheimer initiated coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.11.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Yahav Yulzari sold 150,000 shares of Pagaya Technologies stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.50, for a total value of $2,325,000.00. Following the sale, the insider now owns 161,637 shares in the company, valued at $2,505,373.50. The trade was a 48.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Sanjiv Das sold 10,683 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $11.77, for a total value of $125,738.91. Following the transaction, the president now owns 64,794 shares of the company’s stock, valued at approximately $762,625.38. This represents a 14.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,045 shares of company stock worth $2,755,982 in the last quarter. Company insiders own 49.56% of the company’s stock.

Pagaya Technologies Profile

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.