Tower Research Capital LLC TRC Has $38,000 Stock Holdings in Pagaya Technologies Ltd. (NASDAQ:PGY)

Tower Research Capital LLC TRC cut its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 30.5% during the 4th quarter, HoldingsChannel reports. The fund owned 4,115 shares of the company’s stock after selling 1,808 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Pagaya Technologies were worth $38,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PGY. R Squared Ltd acquired a new position in shares of Pagaya Technologies during the 4th quarter worth $30,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $43,000. Nisa Investment Advisors LLC bought a new position in Pagaya Technologies during the 4th quarter worth approximately $57,000. KLP Kapitalforvaltning AS acquired a new position in Pagaya Technologies in the fourth quarter valued at $67,000. Finally, Arizona State Retirement System grew its stake in Pagaya Technologies by 10.9% during the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock worth $104,000 after purchasing an additional 1,092 shares during the period. 57.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Avital Pardo sold 237,748 shares of Pagaya Technologies stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the sale, the chief technology officer now owns 2,401,528 shares of the company’s stock, valued at approximately $36,407,164.48. The trade was a 9.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Sanjiv Das sold 12,789 shares of the company’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total value of $119,577.15. Following the completion of the sale, the president now directly owns 105,817 shares in the company, valued at approximately $989,388.95. The trade was a 10.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 488,541 shares of company stock valued at $7,331,977 over the last quarter. 49.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on PGY. B. Riley reaffirmed a “buy” rating and issued a $36.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. JMP Securities lifted 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. Finally, Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.61.

Pagaya Technologies Stock Performance

Shares of PGY opened at $15.06 on Thursday. The stock’s 50-day simple moving average is $10.92 and its 200 day simple moving average is $10.81. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -2.74 and a beta of 5.88. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). The company had revenue of $279.39 million for the quarter, compared to the consensus estimate of $264.28 million. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. During the same period in the prior year, the firm posted $0.24 earnings per share. Research analysts forecast that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

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.