256,154 Shares of Pagaya Technologies Ltd. $PGY Purchased by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC acquired a new position in Pagaya Technologies Ltd. (NASDAQ:PGY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 256,154 shares of the company’s stock, valued at approximately $4,437,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PGY. Allspring Global Investments Holdings LLC boosted its holdings in Pagaya Technologies by 141.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,029,081 shares of the company’s stock valued at $12,040,000 after acquiring an additional 602,992 shares during the period. Q Global Advisors LLC increased its stake in Pagaya Technologies by 324.8% in the 1st quarter. Q Global Advisors LLC now owns 537,551 shares of the company’s stock worth $6,262,000 after purchasing an additional 410,996 shares during the period. Edgestream Partners L.P. lifted its position in Pagaya Technologies by 353.2% in the first quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock valued at $4,354,000 after purchasing an additional 291,291 shares during the last quarter. Principal Financial Group Inc. lifted its position in Pagaya Technologies by 211.0% in the first quarter. Principal Financial Group Inc. now owns 375,212 shares of the company’s stock valued at $4,371,000 after purchasing an additional 254,550 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Pagaya Technologies by 614.7% during the second quarter. Squarepoint Ops LLC now owns 252,036 shares of the company’s stock valued at $4,600,000 after purchasing an additional 216,770 shares during the period. Institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Trading Down 0.4%

PGY stock traded down $0.07 during trading on Friday, reaching $18.19. The company had a trading volume of 1,833,860 shares, compared to its average volume of 3,490,512. The company has a debt-to-equity ratio of 1.12, a current ratio of 11.08 and a quick ratio of 11.08. Pagaya Technologies Ltd. has a 52 week low of $10.40 and a 52 week high of $31.54. The business has a 50 day moving average of $20.58 and a 200 day moving average of $16.79. The company has a market cap of $1.52 billion, a P/E ratio of 13.39 and a beta of 5.50.

Analyst Ratings Changes

Several brokerages recently commented on PGY. Jefferies Financial Group lifted their target price on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Pagaya Technologies in a report on Monday, September 14th. TD Cowen decreased their price objective on shares of Pagaya Technologies from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Citizens Jmp lifted their price objective on Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Pagaya Technologies currently has a consensus rating of “Buy” and an average target price of $31.12.

Insiders Place Their Bets

In related news, CAO Cory Vieira sold 2,170 shares of the company’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $17.04, for a total value of $36,976.80. Following the sale, the chief accounting officer directly owned 25,160 shares of the company’s stock, valued at $428,726.40. This represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 28,181 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $21.98, for a total value of $619,418.38. Following the completion of the transaction, the director owned 16,665 shares of the company’s stock, valued at approximately $366,296.70. This trade represents a 62.84% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 98,117 shares of company stock worth $2,019,059. Company insiders own 41.99% of the company’s stock.

Pagaya Technologies Profile

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence, machine learning and data analytics to connect financial institutions with institutional investors. Its technology analyzes large amounts of data to assess credit and other asset characteristics, helping partners originate, manage and fund assets while providing investors with access to diversified investment opportunities.

The company’s platform has supported asset classes including personal loans, auto loans and residential real estate assets.