Arizona PSPRS Trust Acquires Shares of 206,500 Pagaya Technologies Ltd. (NASDAQ:PGY)

Arizona PSPRS Trust purchased a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 206,500 shares of the company’s stock, valued at approximately $2,183,000. Pagaya Technologies accounts for 0.1% of Arizona PSPRS Trust’s portfolio, making the stock its 21st largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Pagaya Technologies in the second quarter valued at approximately $74,000. SG Americas Securities LLC acquired a new stake in shares of Pagaya Technologies in the second quarter valued at $101,000. BNP Paribas Financial Markets raised its holdings in shares of Pagaya Technologies by 48.4% in the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock valued at $103,000 after buying an additional 3,181 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Pagaya Technologies during the 2nd quarter worth about $166,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Pagaya Technologies by 13.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock worth $176,000 after acquiring an additional 1,937 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Insiders Place Their Bets

In related news, President Sanjiv Das sold 10,683 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $11.77, for a total value of $125,738.91. Following the completion of the transaction, the president now directly owns 64,794 shares of the company’s stock, valued at approximately $762,625.38. This represents a 14.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tami Rosen sold 17,570 shares of Pagaya Technologies stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.06, for a total value of $211,894.20. Following the completion of the sale, the insider now directly owns 73,516 shares in the company, valued at $886,602.96. This represents a 19.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 186,045 shares of company stock worth $2,755,982 over the last ninety days. 49.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on PGY shares. JMP Securities reissued a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. B. Riley lowered their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Canaccord Genuity Group cut their price target on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Oppenheimer initiated coverage on shares of Pagaya Technologies in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 target price on the stock. Finally, Wedbush restated a “neutral” rating and issued a $13.00 price objective on shares of Pagaya Technologies in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.

Pagaya Technologies Price Performance

Shares of PGY stock opened at $10.93 on Monday. The firm has a market capitalization of $805.10 million, a price-to-earnings ratio of -4.30 and a beta of 6.33. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $20.50. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average of $10.98 and a 200-day moving average of $12.23.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.