Strs Ohio Takes Position in Pagaya Technologies Ltd. $PGY

Strs Ohio bought a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 49,072 shares of the company’s stock, valued at approximately $1,457,000. Strs Ohio owned approximately 0.06% of Pagaya Technologies as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PGY. JPMorgan Chase & Co. grew its stake in Pagaya Technologies by 436.9% during the second quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock worth $29,534,000 after buying an additional 1,127,242 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Pagaya Technologies by 1,231.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after acquiring an additional 1,110,208 shares in the last quarter. Millennium Management LLC increased its stake in 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 acquiring an additional 961,944 shares during the last quarter. Jump Financial LLC increased its stake in Pagaya Technologies by 509.6% in the second quarter. Jump Financial LLC now owns 672,635 shares of the company’s stock valued at $14,341,000 after acquiring an additional 562,294 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Pagaya Technologies during the second quarter valued at approximately $9,085,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PGY. Wall Street Zen lowered Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Benchmark reiterated a “buy” rating and issued a $48.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note 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 on the stock in a research note on Friday, January 2nd. Finally, Canaccord Genuity Group upped their price objective on shares of Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.25.

Insider Buying and Selling

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

Pagaya Technologies Stock Performance

NASDAQ:PGY opened at $20.77 on Wednesday. The stock’s 50-day moving average is $23.01 and its 200-day moving average is $28.41. Pagaya Technologies Ltd. has a 1-year low of $8.50 and a 1-year high of $44.99. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.16. The stock has a market cap of $1.67 billion, a P/E ratio of -7.78 and a beta of 5.86.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Monday, November 10th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.56 by $0.46. Pagaya Technologies had a negative net margin of 15.32% and a positive return on equity of 31.59%. The business had revenue of $350.17 million for the quarter, compared to the consensus estimate of $338.86 million. During the same period last year, the company earned $0.44 EPS. The firm’s revenue was up 36.3% compared to the same quarter last year. Equities research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

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.