Globeflex Capital L P Has $2.91 Million Holdings in Pagaya Technologies Ltd. $PGY

Globeflex Capital L P trimmed its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,106 shares of the company’s stock after selling 43,887 shares during the period. Globeflex Capital L P owned approximately 0.17% of Pagaya Technologies worth $2,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PGY. Root Financial Partners LLC bought a new position in Pagaya Technologies during the fourth quarter valued at about $27,000. LSV Asset Management bought a new position in Pagaya Technologies during the third quarter valued at about $36,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Pagaya Technologies by 1,386.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,983 shares of the company’s stock valued at $83,000 after acquiring an additional 3,715 shares during the period. Geneos Wealth Management Inc. bought a new position in Pagaya Technologies during the fourth quarter valued at about $87,000. Finally, New York State Teachers Retirement System bought a new position in Pagaya Technologies during the fourth quarter valued at about $88,000. 57.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Citigroup lowered their price objective on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research note on Monday, May 18th. Weiss Ratings lowered Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Finally, Jefferies Financial Group lowered their price objective on Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $33.11.

Insiders Place Their Bets

In related news, CAO Cory Vieira sold 2,140 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.01, for a total transaction of $32,121.40. Following the sale, the chief accounting officer directly owned 18,179 shares in the company, valued at $272,866.79. This represents a 10.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Sanjiv Das sold 9,702 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $10.99, for a total value of $106,624.98. Following the sale, the president owned 144,034 shares in the company, valued at approximately $1,582,933.66. This trade represents a 6.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,896 shares of company stock valued at $590,859 in the last 90 days. Insiders own 47.59% of the company’s stock.

Pagaya Technologies Trading Up 10.7%

PGY stock opened at $15.46 on Friday. Pagaya Technologies Ltd. has a 1-year low of $10.40 and a 1-year high of $44.99. The firm has a market cap of $1.28 billion, a P/E ratio of 14.45 and a beta of 5.35. The business’s 50 day moving average is $13.39 and its 200-day moving average is $16.84. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. The company had revenue of $91.63 million during the quarter. Equities analysts anticipate that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current fiscal year.

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.