Portolan Capital Management LLC Makes New $2.53 Million Investment in Pagaya Technologies Ltd. (NASDAQ:PGY)

Portolan Capital Management LLC purchased a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 271,776 shares of the company’s stock, valued at approximately $2,525,000. Portolan Capital Management LLC owned 0.37% of Pagaya Technologies as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Pagaya Technologies during the fourth quarter valued at about $30,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Pagaya Technologies during the fourth quarter valued at approximately $43,000. Nisa Investment Advisors LLC purchased a new stake in Pagaya Technologies in the 4th quarter worth approximately $57,000. KLP Kapitalforvaltning AS bought a new position in Pagaya Technologies in the 4th quarter valued at $67,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of Pagaya Technologies by 15.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock valued at $101,000 after purchasing an additional 1,532 shares in the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PGY has been the topic of a number of recent analyst reports. JMP Securities increased their price objective on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 13th. B. Riley reissued a “buy” rating and set a $36.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Finally, Benchmark reissued a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.61.

Pagaya Technologies Trading Up 0.4 %

Shares of PGY opened at $9.48 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $19.20. The firm has a 50 day moving average price of $11.65 and a 200-day moving average price of $10.71. The firm has a market cap of $713.83 million, a price-to-earnings ratio of -1.72 and a beta of 5.89.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.32). The business had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same quarter in the previous year, the company earned $0.24 earnings per share. As a group, equities research analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In other news, President Sanjiv Das sold 7,282 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $64,445.70. Following the completion of the transaction, the president now directly owns 91,163 shares of the company’s stock, valued at approximately $806,792.55. This represents a 7.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tami Rosen sold 35,369 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $15.00, for a total value of $530,535.00. Following the completion of the sale, the insider now directly owns 38,181 shares in the company, valued at $572,715. The trade was a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,497 shares of company stock worth $714,905 in the last ninety days. 49.56% of the stock is owned by insiders.

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.