World Investment Advisors Invests $1.16 Million in Pagaya Technologies Ltd. $PGY

World Investment Advisors acquired a new position in Pagaya Technologies Ltd. (NASDAQ:PGY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,688 shares of the company’s stock, valued at approximately $1,164,000. World Investment Advisors owned approximately 0.07% of Pagaya Technologies at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PGY. Millennium Management LLC grew its holdings in Pagaya Technologies by 75.2% during the fourth quarter. Millennium Management LLC now owns 1,738,760 shares of the company’s stock valued at $36,340,000 after purchasing an additional 746,216 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Pagaya Technologies by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after purchasing an additional 359,099 shares during the period. Two Sigma Investments LP lifted its stake in shares of Pagaya Technologies by 5.2% in the third quarter. Two Sigma Investments LP now owns 1,452,578 shares of the company’s stock worth $43,127,000 after buying an additional 71,639 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Pagaya Technologies by 27.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,354,064 shares of the company’s stock worth $28,300,000 after buying an additional 290,379 shares during the last quarter. Finally, Nuveen LLC boosted its holdings in shares of Pagaya Technologies by 3.7% during the 4th quarter. Nuveen LLC now owns 1,299,274 shares of the company’s stock worth $27,155,000 after buying an additional 46,536 shares during the period. 57.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pagaya Technologies

In other news, President Sanjiv Das sold 13,309 shares of Pagaya Technologies stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $16.23, for a total transaction of $216,005.07. Following the sale, the president directly owned 154,475 shares in the company, valued at approximately $2,507,129.25. The trade was a 7.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Cory Vieira sold 2,140 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total transaction of $32,121.40. Following the completion of the sale, the chief accounting officer directly owned 18,179 shares in the company, valued at approximately $272,866.79. The trade was a 10.53% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 55,412 shares of company stock worth $822,542. Corporate insiders own 47.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PGY. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $32.00 price target on shares of Pagaya Technologies in a research report on Monday, May 18th. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $34.50.

Pagaya Technologies Stock Performance

PGY opened at $15.62 on Monday. The stock’s 50 day simple moving average is $14.16 and its 200-day simple moving average is $16.24. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. The stock has a market cap of $1.29 billion, a PE ratio of 14.60 and a beta of 5.35. Pagaya Technologies Ltd. has a 1 year low of $10.40 and a 1 year high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Sunday, March 22nd. The company reported ($40.85) EPS for the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%.The firm had revenue of $91.63 million during the quarter. Sell-side analysts forecast that Pagaya Technologies Ltd. will post 2.92 EPS for the current year.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.