Divisadero Street Capital Management LP Acquires 185,000 Shares of Pagaya Technologies Ltd. $PGY

Divisadero Street Capital Management LP raised its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 79.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 416,919 shares of the company’s stock after purchasing an additional 185,000 shares during the period. Divisadero Street Capital Management LP owned 0.54% of Pagaya Technologies worth $12,378,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Pagaya Technologies by 436.9% in the 2nd 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 during the period. BNP Paribas Financial Markets raised its holdings in 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 valued at $25,591,000 after acquiring an additional 1,110,208 shares during the period. Millennium Management LLC raised its holdings in Pagaya Technologies by 320.1% during the 1st 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 period. Marshall Wace LLP lifted its position in shares of Pagaya Technologies by 1,556.3% during the third quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock worth $19,952,000 after acquiring an additional 631,435 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Pagaya Technologies by 113.1% in the third quarter. American Century Companies Inc. now owns 1,094,799 shares of the company’s stock worth $32,505,000 after acquiring an additional 581,017 shares during the period. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PGY. Freedom Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research note on Tuesday, February 3rd. Benchmark cut their target price on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Canaccord Genuity Group decreased their price target 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. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Jefferies Financial Group cut their price objective on shares of Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Pagaya Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

Pagaya Technologies Price Performance

NASDAQ:PGY opened at $10.96 on Monday. Pagaya Technologies Ltd. has a 52-week low of $8.50 and a 52-week high of $44.99. The stock has a fifty day moving average of $16.84 and a 200 day moving average of $24.41. The company has a debt-to-equity ratio of 1.22, a quick ratio of 10.55 and a current ratio of 10.55. The firm has a market capitalization of $881.18 million, a price-to-earnings ratio of 12.31 and a beta of 5.92.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Monday, February 9th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $334.81 million for the quarter, compared to analyst estimates of $348.75 million. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. On average, research analysts expect that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

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

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.