Federated Hermes Inc. Buys 14,072 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Federated Hermes Inc. boosted its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,885 shares of the company’s stock after acquiring an additional 14,072 shares during the quarter. Federated Hermes Inc.’s holdings in Pagaya Technologies were worth $1,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PGY. Arizona State Retirement System raised its stake 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. CIBC Private Wealth Group LLC grew its holdings in shares of Pagaya Technologies by 15.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock worth $101,000 after buying an additional 1,532 shares in the last quarter. Tidal Investments LLC raised its position in Pagaya Technologies by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 41,322 shares of the company’s stock valued at $437,000 after buying an additional 1,826 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Pagaya Technologies by 13.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock valued at $176,000 after acquiring an additional 1,937 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Pagaya Technologies by 48.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after acquiring an additional 3,181 shares during the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $9.48 on Tuesday. The stock has a market cap of $713.83 million, a PE ratio of -1.72 and a beta of 5.89. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a 50-day moving average of $11.65 and a 200-day moving average of $10.71. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $19.20.

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

Analyst Upgrades and Downgrades

PGY has been the topic of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities boosted their price target on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. B. Riley restated a “buy” rating and set a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. UBS Group started coverage on Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 target price on the stock. Finally, Citigroup raised 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 report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pagaya Technologies currently has an average rating of “Moderate Buy” and an average target price of $20.61.

Insider Transactions at Pagaya Technologies

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

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.