Pagaya Technologies Ltd. $PGY Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 424.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,900 shares of the company’s stock after purchasing an additional 34,726 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Pagaya Technologies were worth $897,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of Pagaya Technologies by 26.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock worth $17,871,000 after purchasing an additional 359,099 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of Pagaya Technologies by 5.2% during the third quarter. Two Sigma Investments LP now owns 1,452,578 shares of the company’s stock worth $43,127,000 after purchasing an additional 71,639 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of 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 purchasing an additional 961,944 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Pagaya Technologies by 0.3% during the third quarter. BNP Paribas Financial Markets now owns 1,204,362 shares of the company’s stock worth $35,758,000 after purchasing an additional 4,014 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of 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 purchasing an additional 581,017 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Trading Up 1.8%

Shares of PGY opened at $14.83 on Thursday. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.22 billion, a P/E ratio of 16.66 and a beta of 5.42. The stock’s fifty day simple moving average is $12.28 and its 200 day simple moving average is $18.75. Pagaya Technologies Ltd. has a twelve month low of $10.40 and a twelve month high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. The firm had revenue of $91.63 million during the quarter. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%. On average, equities research analysts forecast that Pagaya Technologies Ltd. will post 2.24 earnings per share for the current year.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, Director Tami Rosen sold 9,720 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $15.14, for a total value of $147,160.80. Following the transaction, the director directly owned 37,544 shares of the company’s stock, valued at $568,416.16. This trade represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Sanjiv Das sold 9,702 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $10.99, for a total value of $106,624.98. Following the completion of the transaction, the president directly owned 144,034 shares in the company, valued at $1,582,933.66. This trade represents a 6.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 46,756 shares of company stock valued at $558,738 over the last three months. 47.59% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PGY. Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Canaccord Genuity Group cut their target price on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Jefferies Financial Group cut their target price on Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Benchmark cut their target price on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, Citigroup cut their target price on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.11.

Pagaya Technologies Company Profile

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.