Hsbc Holdings PLC Has $1.17 Million Position in Pagaya Technologies Ltd. $PGY

Hsbc Holdings PLC lifted its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 231.7% in the first quarter, HoldingsChannel.com reports. The fund owned 100,863 shares of the company’s stock after buying an additional 70,451 shares during the period. Hsbc Holdings PLC’s holdings in Pagaya Technologies were worth $1,169,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC bought a new position in Pagaya Technologies in the first quarter valued at approximately $452,000. Kestra Private Wealth Services LLC increased its stake in shares of Pagaya Technologies by 64.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 56,044 shares of the company’s stock valued at $653,000 after purchasing an additional 22,061 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Pagaya Technologies in the 1st quarter valued at $1,426,000. World Investment Advisors acquired a new position in shares of Pagaya Technologies during the 4th quarter worth $1,164,000. Finally, Virtu Financial LLC raised its holdings in shares of Pagaya Technologies by 60.3% during the 4th quarter. Virtu Financial LLC now owns 51,898 shares of the company’s stock worth $1,085,000 after buying an additional 19,513 shares in the last quarter. Institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Stock Down 2.1%

NASDAQ:PGY opened at $16.61 on Wednesday. The firm’s 50 day simple moving average is $15.96 and its 200 day simple moving average is $15.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99. The company has a market cap of $1.38 billion, a PE ratio of 15.52 and a beta of 5.32.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. The business had revenue of $91.63 million during the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. On average, research analysts anticipate that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Insiders Place Their Bets

In other Pagaya Technologies news, President Sanjiv Das sold 14,000 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $15.83, for a total value of $221,620.00. Following the sale, the president owned 165,475 shares in the company, valued at approximately $2,619,469.25. The trade was a 7.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Evangelos Perros sold 11,558 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $16.23, for a total value of $187,586.34. Following the transaction, the insider owned 131,241 shares of the company’s stock, valued at $2,130,041.43. This trade represents a 8.09% decrease in their ownership of the stock. 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. Insiders sold a total of 58,090 shares of company stock valued at $923,764 over the last ninety days. 41.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PGY has been the topic of several research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research note on Monday, May 18th. Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Finally, Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $35.86.

Pagaya Technologies Company Profile

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.