Pagaya Technologies Ltd. $PGY Shares Sold by Hamilton Lane Advisors LLC
by Scott Moore · The Cerbat GemHamilton Lane Advisors LLC lessened its stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY – Free Report) by 62.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 154,224 shares of the company’s stock after selling 253,211 shares during the period. Pagaya Technologies makes up about 1.8% of Hamilton Lane Advisors LLC’s portfolio, making the stock its 9th biggest position. Hamilton Lane Advisors LLC owned approximately 0.19% of Pagaya Technologies worth $3,223,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings 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 worth $17,871,000 after buying an additional 359,099 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Pagaya Technologies by 5.2% during the third quarter. Two Sigma Investments LP now owns 1,452,578 shares of the company’s stock valued at $43,127,000 after buying an additional 71,639 shares during the last quarter. Millennium Management LLC increased its position 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 acquiring an additional 961,944 shares during the period. BNP Paribas Financial Markets increased its position in shares of Pagaya Technologies by 0.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,204,362 shares of the company’s stock valued at $35,758,000 after acquiring an additional 4,014 shares during the period. Finally, American Century Companies Inc. raised its stake in Pagaya Technologies by 113.1% in the 3rd quarter. American Century Companies Inc. now owns 1,094,799 shares of the company’s stock worth $32,505,000 after acquiring an additional 581,017 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.
Insider Transactions at Pagaya Technologies
In other Pagaya Technologies news, insider Tami Rosen sold 5,905 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $10.99, for a total value of $64,895.95. Following the completion of the transaction, the insider directly owned 47,264 shares of the company’s stock, valued at approximately $519,431.36. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Evangelos Perros sold 13,004 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $11.34, for a total value of $147,465.36. Following the completion of the sale, the chief financial officer owned 122,174 shares in the company, valued at approximately $1,385,453.16. This represents a 9.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 50,731 shares of company stock worth $726,425 over the last quarter. 47.59% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. Keefe, Bruyette & Woods lowered their price target on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, January 2nd. Zacks Research cut Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Jefferies Financial Group decreased their target price on Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Canaccord Genuity Group dropped their target price on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, Weiss Ratings upgraded shares of Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.
Get Our Latest Report on Pagaya Technologies
Pagaya Technologies Stock Performance
NASDAQ PGY opened at $11.77 on Friday. Pagaya Technologies Ltd. has a 1 year low of $8.50 and a 1 year high of $44.99. The company has a debt-to-equity ratio of 1.22, a current ratio of 10.55 and a quick ratio of 10.55. The company has a market capitalization of $971.38 million, a PE ratio of 13.22 and a beta of 5.74. The company has a fifty day moving average of $13.26 and a 200 day moving average of $21.85.
Pagaya Technologies (NASDAQ:PGY – Get Free Report) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.05. The company had revenue of $334.81 million for the quarter, compared to the consensus estimate of $348.75 million. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. Research analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share 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.