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

Portolan Capital Management LLC bought a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) during the fourth quarter, Holdings Channel.com reports. The fund bought 271,776 shares of the company’s stock, valued at approximately $2,525,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. R Squared Ltd purchased a new stake in Pagaya Technologies in the fourth quarter worth about $30,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Pagaya Technologies in the 4th quarter worth approximately $43,000. Nisa Investment Advisors LLC purchased a new position in shares of Pagaya Technologies in the 4th quarter valued at approximately $57,000. KLP Kapitalforvaltning AS bought a new stake in shares of Pagaya Technologies during the fourth quarter valued at approximately $67,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Pagaya Technologies by 15.9% during the fourth 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. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Insider Activity

In related news, President Sanjiv Das sold 7,282 shares of Pagaya Technologies stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $64,445.70. Following the transaction, the president now directly owns 91,163 shares in the company, valued at approximately $806,792.55. The trade was a 7.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tami Rosen sold 9,846 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $12.18, for a total value of $119,924.28. Following the sale, the insider now directly owns 73,550 shares of the company’s stock, valued at $895,839. This represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,497 shares of company stock valued at $714,905 in the last quarter. 49.56% of the stock is currently owned by insiders.

Pagaya Technologies Trading Up 0.4 %

NASDAQ:PGY opened at $9.48 on Tuesday. The company has a market cap of $713.83 million, a PE ratio of -1.72 and a beta of 5.89. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The company has a 50 day simple moving average of $11.65 and a two-hundred day simple moving average of $10.71. Pagaya Technologies Ltd. has a 12 month low of $8.20 and a 12 month high of $19.20.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on PGY. Benchmark reissued a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. JMP Securities raised their price objective on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Finally, UBS Group began coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.61.

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.