Pagaya Technologies Ltd. (NASDAQ:PGY) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 31.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,799 shares of the company’s stock after selling 57,535 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.18% of Pagaya Technologies worth $1,618,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. nVerses Capital LLC purchased a new position in Pagaya Technologies in the 2nd quarter valued at about $74,000. SG Americas Securities LLC bought a new stake in Pagaya Technologies during the second quarter worth approximately $101,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Pagaya Technologies in the first quarter valued at $158,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Pagaya Technologies during the second quarter valued at about $166,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Pagaya Technologies during the second quarter worth about $187,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Insider Transactions at Pagaya Technologies

In other news, insider Tami Rosen sold 8,025 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total value of $117,967.50. Following the transaction, the insider now directly owns 55,751 shares of the company’s stock, valued at $819,539.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tami Rosen sold 8,025 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $14.70, for a total transaction of $117,967.50. Following the sale, the insider now directly owns 55,751 shares of the company’s stock, valued at $819,539.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Sanjiv Das sold 10,794 shares of Pagaya Technologies stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $14.57, for a total value of $157,268.58. Following the completion of the sale, the president now directly owns 66,232 shares of the company’s stock, valued at $965,000.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,453 shares of company stock valued at $973,545. 19.70% of the stock is owned by insiders.

Pagaya Technologies Stock Performance

PGY opened at $10.17 on Tuesday. The stock has a market cap of $721.05 million, a PE ratio of -7.21 and a beta of 6.36. Pagaya Technologies Ltd. has a 1 year low of $8.56 and a 1 year high of $20.50. The stock’s 50 day simple moving average is $12.53 and its 200-day simple moving average is $12.06. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.72.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.11). The business had revenue of $250.34 million for the quarter, compared to the consensus estimate of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. Sell-side analysts forecast that Pagaya Technologies Ltd. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on PGY shares. Oppenheimer started coverage on shares of Pagaya Technologies in a research note on Tuesday, October 1st. They set an “outperform” rating and a $12.00 target price for the company. Keefe, Bruyette & Woods initiated coverage on shares of Pagaya Technologies in a report on Monday, June 17th. They set an “outperform” rating and a $23.00 price target on the stock. Canaccord Genuity Group dropped their price objective on Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, September 30th. JMP Securities restated a “market outperform” rating and set a $25.00 target price on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Finally, B. Riley dropped their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.89.

Pagaya Technologies 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.