Caitong International Asset Management Co. Ltd Acquires 520 Shares of Pagaya Technologies Ltd. $PGY

Caitong International Asset Management Co. Ltd boosted its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 35.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,973 shares of the company’s stock after acquiring an additional 520 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Pagaya Technologies were worth $42,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Pagaya Technologies by 26.7% in the 1st 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 last quarter. Millennium Management LLC boosted its stake in shares of Pagaya Technologies by 320.1% in the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after purchasing an additional 961,944 shares during the last quarter. Nuveen LLC bought a new stake in shares of Pagaya Technologies in the 1st quarter valued at $6,465,000. Cubist Systematic Strategies LLC boosted its stake in shares of Pagaya Technologies by 2,256.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 521,721 shares of the company’s stock valued at $5,468,000 after purchasing an additional 499,584 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Pagaya Technologies by 446.1% in the 1st quarter. Bank of New York Mellon Corp now owns 482,018 shares of the company’s stock valued at $5,052,000 after purchasing an additional 393,752 shares during the last quarter. 57.14% of the stock is owned by institutional investors.

Pagaya Technologies Stock Down 1.6%

Shares of NASDAQ PGY opened at $29.04 on Friday. The firm has a market cap of $2.22 billion, a PE ratio of -7.58 and a beta of 5.86. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $44.99. The company’s fifty day simple moving average is $33.82 and its 200 day simple moving average is $24.50. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.85.

Insiders Place Their Bets

In other Pagaya Technologies news, President Sanjiv Das sold 13,304 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $40.62, for a total transaction of $540,408.48. Following the transaction, the president owned 96,885 shares in the company, valued at approximately $3,935,468.70. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Evangelos Perros sold 14,356 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $37.34, for a total transaction of $536,053.04. Following the transaction, the chief financial officer owned 59,079 shares in the company, valued at approximately $2,206,009.86. The trade was a 19.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,081 shares of company stock worth $3,475,010. Insiders own 47.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PGY shares. Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Citigroup upped their price objective on shares of Pagaya Technologies from $16.50 to $40.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods upped their price objective on shares of Pagaya Technologies from $27.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Oppenheimer upped their price objective on shares of Pagaya Technologies from $16.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Pagaya Technologies in a research note on Tuesday, October 14th. Eight 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.33.

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.