Bessemer Group Inc. Invests $1.60 Million in Pagaya Technologies Ltd. $PGY

Bessemer Group Inc. purchased a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) during the third quarter, according to its most recent filing with the SEC. The firm purchased 53,993 shares of the company’s stock, valued at approximately $1,603,000. Bessemer Group Inc. owned 0.07% of Pagaya Technologies at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PGY. Versant Capital Management Inc bought a new stake in Pagaya Technologies in the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd increased its position in shares of Pagaya Technologies by 35.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock valued at $42,000 after buying an additional 520 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Pagaya Technologies during the 3rd quarter worth $84,000. Pilgrim Partners Asia Pte Ltd bought a new position in Pagaya Technologies during the third quarter worth about $98,000. Finally, Tower Research Capital LLC TRC grew its stake in Pagaya Technologies by 177.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,561 shares of the company’s stock valued at $140,000 after acquiring an additional 4,199 shares during the period. Institutional investors and hedge funds own 57.14% of the company’s stock.

Insider Transactions at Pagaya Technologies

In related news, CFO Evangelos Perros sold 9,750 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $22.99, for a total transaction 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 represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Sanjiv Das sold 3,945 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 $90,695.55. Following the transaction, the president directly owned 129,986 shares in the company, valued at $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 sold a total of 21,256 shares of company stock worth $547,198 in the last three months. Insiders own 47.59% of the company’s stock.

Pagaya Technologies Trading Up 12.0%

NASDAQ:PGY opened at $18.64 on Monday. The company has a market cap of $1.50 billion, a P/E ratio of -6.98 and a beta of 5.85. Pagaya Technologies Ltd. has a twelve month low of $8.50 and a twelve month high of $44.99. The business has a 50 day moving average price of $22.36 and a two-hundred day moving average price of $27.88. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.16.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Monday, February 9th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. Pagaya Technologies had a negative net margin of 15.32% and a positive return on equity of 31.59%. The business had revenue of $334.81 million for the quarter, compared to analyst estimates of $348.75 million. As a group, analysts expect that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PGY. Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Wall Street Zen cut Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Keefe, Bruyette & Woods dropped their target price on shares of Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, January 2nd. Freedom Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.25.

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.