Pagaya Technologies Ltd. (NASDAQ:PGY) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,263 shares of the company’s stock after selling 6,288 shares during the period. Sei Investments Co.’s holdings in Pagaya Technologies were worth $188,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PGY. R Squared Ltd purchased a new stake in shares of Pagaya Technologies in the 4th quarter valued at approximately $30,000. Nisa Investment Advisors LLC purchased a new stake in shares of Pagaya Technologies during the 4th quarter worth $57,000. BNP Paribas Financial Markets grew its stake in shares of Pagaya Technologies by 48.4% during the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after purchasing an additional 3,181 shares in the last quarter. Arizona State Retirement System increased its holdings in Pagaya Technologies by 10.9% in the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock valued at $104,000 after buying an additional 1,092 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Pagaya Technologies in the fourth quarter valued at $114,000. 57.14% of the stock is owned by institutional investors and hedge funds.

Pagaya Technologies Price Performance

PGY stock opened at $9.44 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $710.81 million, a P/E ratio of -1.72 and a beta of 5.89. The business has a 50 day simple moving average of $11.67 and a 200-day simple moving average of $10.70. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The business had revenue of $279.39 million during the quarter, compared to analysts’ expectations of $264.28 million. During the same quarter last year, the company earned $0.24 EPS. As a group, equities analysts anticipate that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PGY. B. Riley reaffirmed a “buy” rating and set a $36.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. JMP Securities boosted their target price on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Citigroup upgraded shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $13.00 to $14.50 in a research note on Friday, February 7th. UBS Group initiated coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.61.

Insider Activity

In related news, President Sanjiv Das sold 7,282 shares of Pagaya Technologies stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $64,445.70. Following the transaction, the president now directly owns 91,163 shares in the company, valued at $806,792.55. This trade represents a 7.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tami Rosen sold 35,369 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $15.00, for a total transaction of $530,535.00. Following the transaction, the insider now owns 38,181 shares of the company’s stock, valued at approximately $572,715. The trade was a 48.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,497 shares of company stock valued at $714,905. Insiders own 49.56% of the company’s stock.

Pagaya Technologies 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.