JPMorgan Chase & Co. Has $5.81 Million Stock Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

JPMorgan Chase & Co. lifted its stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 310.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 625,351 shares of the company’s stock after acquiring an additional 473,063 shares during the quarter. JPMorgan Chase & Co.’s holdings in Pagaya Technologies were worth $5,810,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in Pagaya Technologies by 14.6% during the 3rd quarter. State Street Corp now owns 763,823 shares of the company’s stock worth $8,074,000 after buying an additional 97,135 shares during the period. Geode Capital Management LLC grew its holdings in shares of Pagaya Technologies by 7.8% in the third quarter. Geode Capital Management LLC now owns 596,992 shares of the company’s stock valued at $6,310,000 after acquiring an additional 43,068 shares in the last quarter. American Century Companies Inc. bought a new position in Pagaya Technologies in the 4th quarter valued at $382,000. Ironwood Investment Management LLC purchased a new stake in Pagaya Technologies during the fourth quarter worth about $288,000. Finally, Virtu Financial LLC purchased a new stake in shares of Pagaya Technologies during the 3rd quarter worth approximately $223,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Trading Up 1.8 %

Shares of PGY stock opened at $9.46 on Friday. 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 market capitalization of $711.94 million, a PE ratio of -1.72 and a beta of 5.89. The stock has a fifty day simple moving average of $11.49 and a two-hundred day simple moving average of $10.69. 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). 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 for the quarter, compared to analysts’ expectations of $264.28 million. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, analysts predict that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 35,369 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 38,181 shares in the company, valued at approximately $572,715. The trade was a 48.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Sanjiv Das sold 12,789 shares of the firm’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $9.35, for a total transaction of $119,577.15. Following the completion of the transaction, the president now directly owns 105,817 shares in the company, valued at approximately $989,388.95. This represents a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,004 shares of company stock valued at $770,036 in the last three months. 49.56% of the stock is owned by insiders.

Analyst Ratings Changes

PGY has been the topic of several research reports. UBS Group started coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target on the stock. B. Riley reissued a “buy” rating and set a $36.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.00 to $14.50 in a research note on Friday, February 7th. JMP Securities lifted 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 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 note on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.61.

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.