Next Century Growth Investors LLC Decreases Position in Pagaya Technologies Ltd. $PGY

Next Century Growth Investors LLC lessened its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 57.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 283,680 shares of the company’s stock after selling 376,928 shares during the quarter. Next Century Growth Investors LLC’s holdings in Pagaya Technologies were worth $5,929,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PGY. AQR Capital Management LLC raised its position in Pagaya Technologies by 2,722.3% in the 1st quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock worth $3,204,000 after purchasing an additional 294,878 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Pagaya Technologies by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock worth $653,000 after purchasing an additional 6,365 shares during the period. Millennium Management LLC raised its position in Pagaya Technologies by 320.1% in the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after purchasing an additional 961,944 shares during the period. Goldman Sachs Group Inc. raised its position in Pagaya Technologies by 26.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock worth $17,871,000 after purchasing an additional 359,099 shares during the period. Finally, Legal & General Group Plc raised its position in Pagaya Technologies by 19.0% in the 2nd quarter. Legal & General Group Plc now owns 34,909 shares of the company’s stock worth $744,000 after purchasing an additional 5,580 shares during the period. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PGY shares. Zacks Research upgraded shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Texas Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $32.00 target price on shares of Pagaya Technologies in a research report on Monday, May 18th. Finally, Weiss Ratings cut shares of Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Pagaya Technologies currently has an average rating of “Buy” and an average target price of $34.50.

Pagaya Technologies Price Performance

PGY stock opened at $15.42 on Monday. The firm’s 50-day moving average price is $13.81 and its two-hundred day moving average price is $16.55. Pagaya Technologies Ltd. has a 12-month low of $10.40 and a 12-month high of $44.99. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 14.41 and a beta of 5.35. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. The firm had revenue of $91.63 million during the quarter. As a group, equities analysts predict that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, CFO Evangelos Perros sold 13,004 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $11.34, for a total value of $147,465.36. Following the transaction, the chief financial officer owned 122,174 shares in the company, valued at approximately $1,385,453.16. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Cory Vieira sold 2,140 shares of the business’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 transaction, the chief accounting officer owned 18,179 shares in the company, valued at $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. Over the last quarter, insiders have sold 24,864 shares of company stock worth $326,748. 47.59% of the stock is currently owned by company insiders.

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.