The Manufacturers Life Insurance Company Has $118,000 Stock Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

The Manufacturers Life Insurance Company decreased its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 23.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,749 shares of the company’s stock after selling 3,865 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Pagaya Technologies were worth $118,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Pagaya Technologies in the 4th quarter valued at $30,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Pagaya Technologies in the 4th quarter valued at $43,000. Nisa Investment Advisors LLC acquired a new position in shares of Pagaya Technologies in the 4th quarter valued at $57,000. KLP Kapitalforvaltning AS acquired a new position in shares of Pagaya Technologies in the 4th quarter valued at $67,000. Finally, Arizona State Retirement System boosted its position in shares of Pagaya Technologies by 10.9% in the 4th quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock valued at $104,000 after purchasing an additional 1,092 shares during the period. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Stock Up 1.9%

PGY opened at $14.30 on Monday. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $19.20. The business has a 50-day moving average of $11.10 and a 200-day moving average of $10.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $1.08 billion, a PE ratio of -2.60 and a beta of 5.88.

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

Analyst Ratings Changes

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

Insider Transactions at Pagaya Technologies

In other news, CTO Avital Pardo sold 237,748 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the transaction, the chief technology officer now owns 2,401,528 shares of the company’s stock, valued at approximately $36,407,164.48. This represents a 9.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Yahav Yulzari sold 238,004 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.16, for a total value of $3,608,140.64. Following the transaction, the insider now directly owns 4,346,141 shares in the company, valued at approximately $65,887,497.56. This represents a 5.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 488,541 shares of company stock valued at $7,331,977 in the last three months. Corporate insiders own 47.59% of the company’s stock.

About Pagaya Technologies

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.