61,172 Shares in Pagaya Technologies Ltd. (NASDAQ:PGY) Acquired by Rhumbline Advisers

Rhumbline Advisers acquired a new position in Pagaya Technologies Ltd. (NASDAQ:PGY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,172 shares of the company’s stock, valued at approximately $781,000.

A number of other hedge funds have also recently added to or reduced their stakes in PGY. Swiss National Bank acquired a new position in Pagaya Technologies during the fourth quarter valued at approximately $658,000. Quadrature Capital Ltd acquired a new position in Pagaya Technologies during the fourth quarter valued at approximately $1,079,000. Counterpoint Mutual Funds LLC acquired a new position in Pagaya Technologies during the first quarter valued at approximately $275,000. Allspring Global Investments Holdings LLC acquired a new position in Pagaya Technologies during the first quarter valued at approximately $12,686,000. Finally, Cornerstone Investment Partners LLC acquired a new position in Pagaya Technologies during the first quarter valued at approximately $158,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Stock Down 3.1 %

Shares of PGY stock opened at $11.95 on Tuesday. The stock has a market cap of $847.26 million, a P/E ratio of -8.48 and a beta of 6.41. Pagaya Technologies Ltd. has a one year low of $8.56 and a one year high of $20.50. The stock has a fifty day moving average price of $13.37 and a 200 day moving average price of $12.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 1.50.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The firm had revenue of $250.34 million during the quarter, compared to the consensus estimate of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. Analysts predict that Pagaya Technologies Ltd. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In other Pagaya Technologies news, CFO Evangelos Perros sold 24,171 shares of Pagaya Technologies stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $13.55, for a total transaction of $327,517.05. Following the completion of the transaction, the chief financial officer now directly owns 23,791 shares of the company’s stock, valued at $322,368.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Pagaya Technologies news, President Sanjiv Das sold 10,794 shares of Pagaya Technologies stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $14.57, for a total transaction of $157,268.58. Following the completion of the transaction, the president now directly owns 66,232 shares of the company’s stock, valued at $965,000.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Evangelos Perros sold 24,171 shares of Pagaya Technologies stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $13.55, for a total value of $327,517.05. Following the completion of the transaction, the chief financial officer now directly owns 23,791 shares of the company’s stock, valued at $322,368.05. The disclosure for this sale can be found here. Insiders sold a total of 68,203 shares of company stock valued at $995,963 over the last ninety days. 19.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on PGY shares. Benchmark started coverage on Pagaya Technologies in a report on Monday, August 26th. They set a “buy” rating and a $21.00 price target on the stock. Wedbush restated a “neutral” rating and issued a $13.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. Keefe, Bruyette & Woods assumed coverage on shares of Pagaya Technologies in a research note on Monday, June 17th. They issued an “outperform” rating and a $23.00 price objective on the stock. JMP Securities restated a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.00.

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.