Y Intercept Hong Kong Ltd Has $1.49 Million Stock Position in Pagaya Technologies Ltd. $PGY

Y Intercept Hong Kong Ltd reduced its position in Pagaya Technologies Ltd. (NASDAQ:PGY) by 36.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,254 shares of the company’s stock after selling 29,444 shares during the period. Y Intercept Hong Kong Ltd owned about 0.07% of Pagaya Technologies worth $1,492,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PGY. Goldman Sachs Group Inc. boosted its stake in Pagaya Technologies by 26.7% in the 1st 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 period. JPMorgan Chase & Co. raised its stake in Pagaya Technologies by 436.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock valued at $29,534,000 after purchasing an additional 1,127,242 shares during the period. Millennium Management LLC lifted its holdings in shares of Pagaya Technologies by 320.1% in the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after purchasing an additional 961,944 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Pagaya Technologies by 1,231.6% in the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after buying an additional 1,110,208 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Pagaya Technologies by 40.2% during the second quarter. Cubist Systematic Strategies LLC now owns 731,454 shares of the company’s stock valued at $15,595,000 after buying an additional 209,733 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PGY. Weiss Ratings reissued a “sell (d-)” rating on shares of Pagaya Technologies in a research note on Friday, January 9th. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Keefe, Bruyette & Woods reduced their price target on shares of Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, January 2nd. Wall Street Zen downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Canaccord Genuity Group upped their price objective on shares of Pagaya Technologies from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.25.

Pagaya Technologies Stock Down 3.8%

Shares of Pagaya Technologies stock opened at $19.39 on Friday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -7.26 and a beta of 5.86. The stock has a 50-day simple moving average of $22.93 and a 200-day simple moving average of $28.27. Pagaya Technologies Ltd. has a 52-week low of $8.50 and a 52-week high of $44.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 11.41 and a quick ratio of 11.41.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Monday, November 10th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.46. The firm had revenue of $350.17 million for the quarter, compared to analyst estimates of $338.86 million. Pagaya Technologies had a negative net margin of 15.32% and a positive return on equity of 31.59%. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. On average, equities research analysts expect that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 3,945 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $90,695.55. Following the completion of the sale, the president owned 129,986 shares of the company’s stock, valued at $2,988,378.14. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Evangelos Perros sold 9,750 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $224,152.50. Following the transaction, the chief financial officer directly owned 100,212 shares in the company, valued at approximately $2,303,873.88. This represents a 8.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 21,256 shares of company stock valued at $547,198. Insiders own 47.59% of the company’s stock.

Pagaya Technologies 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.