Pagaya Technologies Ltd. $PGY is Corton Capital Inc.’s 7th Largest Position

Corton Capital Inc. increased its stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 26.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,551 shares of the company’s stock after purchasing an additional 5,991 shares during the quarter. Pagaya Technologies makes up 0.7% of Corton Capital Inc.’s holdings, making the stock its 7th largest position. Corton Capital Inc.’s holdings in Pagaya Technologies were worth $609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PGY. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Pagaya Technologies in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Pagaya Technologies by 35.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after acquiring an additional 520 shares during the last quarter. Virtus Advisers LLC purchased a new position in Pagaya Technologies during the first quarter worth approximately $35,000. GAMMA Investing LLC lifted its position in Pagaya Technologies by 5,431.3% during the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company’s stock worth $46,000 after buying an additional 4,345 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Pagaya Technologies by 77.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,435 shares of the company’s stock valued at $95,000 after purchasing an additional 1,935 shares during the period. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 15,026 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $30.73, for a total transaction of $461,748.98. Following the sale, the insider owned 28,181 shares in the company, valued at approximately $866,002.13. This represents a 34.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Sanjiv Das sold 4,783 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $30.20, for a total value of $144,446.60. Following the sale, the president owned 100,640 shares in the company, valued at approximately $3,039,328. This trade represents a 4.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 95,081 shares of company stock worth $3,475,010. 47.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PGY has been the subject of several analyst reports. Citigroup boosted their target price on Pagaya Technologies from $16.50 to $40.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. B. Riley upped their price objective on Pagaya Technologies from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Benchmark reaffirmed a “buy” rating and set a $48.00 price objective on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Finally, JMP Securities boosted their target price on Pagaya Technologies from $26.00 to $35.00 and gave the company a “market outperform” rating in a report on Monday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Pagaya Technologies presently has an average rating of “Moderate Buy” and an average price target of $34.33.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $26.89 on Monday. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -7.02 and a beta of 5.83. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $33.40 and its two-hundred day moving average is $25.34. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $44.99.

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.