Arizona PSPRS Trust Makes New $2.18 Million Investment in Pagaya Technologies Ltd. (NASDAQ:PGY)

Arizona PSPRS Trust purchased a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 206,500 shares of the company’s stock, valued at approximately $2,183,000. Pagaya Technologies accounts for about 0.1% of Arizona PSPRS Trust’s investment portfolio, making the stock its 21st biggest position. Arizona PSPRS Trust owned about 0.29% of Pagaya Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Millennium Management LLC grew its position in Pagaya Technologies by 455.9% in the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after purchasing an additional 179,235 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in Pagaya Technologies in the 2nd quarter valued at approximately $2,273,000. Yarra Square Partners LP raised its stake in Pagaya Technologies by 29.9% during the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock valued at $7,903,000 after acquiring an additional 142,500 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Pagaya Technologies during the 2nd quarter worth $1,564,000. Finally, Quantbot Technologies LP acquired a new position in shares of Pagaya Technologies during the third quarter valued at $787,000. Institutional investors own 57.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PGY has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $21.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Canaccord Genuity Group cut their target price on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. B. Riley reduced their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. JMP Securities reissued a “market outperform” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.11.

Insider Activity at Pagaya Technologies

In other news, insider Yahav Yulzari bought 23,600 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $10.52 per share, for a total transaction of $248,272.00. Following the acquisition, the insider now directly owns 311,637 shares of the company’s stock, valued at $3,278,421.24. The trade was a 8.19 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tami Rosen sold 17,570 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.06, for a total value of $211,894.20. Following the completion of the transaction, the insider now directly owns 73,516 shares in the company, valued at approximately $886,602.96. This represents a 19.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,045 shares of company stock valued at $2,755,982. 49.56% of the stock is currently owned by corporate insiders.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $10.93 on Monday. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $20.50. The stock’s 50-day moving average is $10.98 and its two-hundred day moving average is $12.23. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $805.10 million, a P/E ratio of -4.30 and a beta of 6.33.

Pagaya Technologies Company Profile

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.