Pagaya Technologies Ltd. (NASDAQ:PGY) Stock Position Raised by Voya Investment Management LLC

Voya Investment Management LLC grew its position in Pagaya Technologies Ltd. (NASDAQ:PGY) by 62.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,729 shares of the company’s stock after purchasing an additional 9,108 shares during the period. Voya Investment Management LLC’s holdings in Pagaya Technologies were worth $220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Pagaya Technologies by 502.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock valued at $1,610,000 after acquiring an additional 127,012 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Pagaya Technologies by 80.7% in the fourth quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock worth $123,000 after acquiring an additional 5,925 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Pagaya Technologies by 14.7% during the fourth quarter. Rhumbline Advisers now owns 75,620 shares of the company’s stock worth $703,000 after buying an additional 9,674 shares during the last quarter. Barclays PLC bought a new stake in Pagaya Technologies in the fourth quarter valued at approximately $595,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $57,000. Institutional investors own 57.14% of the company’s stock.

Analysts Set New Price Targets

PGY has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. JMP Securities lifted their target price 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 issued a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Finally, 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 report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.61.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 12,789 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total transaction of $119,577.15. Following the transaction, the president now owns 105,817 shares of the company’s stock, valued at $989,388.95. The trade was a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Yahav Yulzari sold 238,004 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,608,140.64. Following the sale, the insider now owns 4,346,141 shares in the company, valued at approximately $65,887,497.56. The trade was a 5.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,910 shares of company stock worth $7,862,512 over the last three months. 49.56% of the stock is owned by corporate insiders.

Pagaya Technologies Stock Down 2.5%

Shares of Pagaya Technologies stock opened at $14.96 on Wednesday. The company’s fifty day simple moving average is $10.83 and its two-hundred day simple moving average is $10.78. The company has a market cap of $1.13 billion, a P/E ratio of -2.72 and a beta of 5.88. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (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 company had revenue of $279.39 million for the quarter, compared to the consensus estimate of $264.28 million. During the same quarter in the prior year, the company posted $0.24 EPS. Research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

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.