JTC Employer Solutions Trustee Ltd Has $3.69 Million Stock Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

JTC Employer Solutions Trustee Ltd reduced its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 87.0% in the first quarter, Holdings Channel reports. The institutional investor owned 359,338 shares of the company’s stock after selling 2,402,502 shares during the period. JTC Employer Solutions Trustee Ltd’s holdings in Pagaya Technologies were worth $3,685,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PGY. Citigroup Inc. grew its holdings in shares of Pagaya Technologies by 88.0% during the third quarter. Citigroup Inc. now owns 309,747 shares of the company’s stock valued at $489,000 after buying an additional 145,004 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Pagaya Technologies during the third quarter valued at about $38,000. Rokos Capital Management LLP bought a new position in shares of Pagaya Technologies during the third quarter valued at about $321,000. Capricorn Fund Managers Ltd lifted its position in shares of Pagaya Technologies by 12.6% during the fourth quarter. Capricorn Fund Managers Ltd now owns 1,736,073 shares of the company’s stock valued at $2,396,000 after purchasing an additional 194,073 shares in the last quarter. Finally, ARK Investment Management LLC lifted its position in shares of Pagaya Technologies by 58.8% during the fourth quarter. ARK Investment Management LLC now owns 1,489,697 shares of the company’s stock valued at $2,056,000 after purchasing an additional 551,520 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pagaya Technologies

In related news, CEO Gal Krubiner purchased 33,600 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was acquired at an average price of $10.36 per share, with a total value of $348,096.00. Following the purchase, the chief executive officer now directly owns 523,076 shares in the company, valued at $5,419,067.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Gal Krubiner purchased 33,600 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was acquired at an average price of $10.36 per share, with a total value of $348,096.00. Following the purchase, the chief executive officer now directly owns 523,076 shares in the company, valued at $5,419,067.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Avi Zeevi purchased 30,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was bought at an average cost of $10.35 per share, with a total value of $310,500.00. Following the purchase, the director now owns 35,656 shares in the company, valued at $369,039.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 134,807 shares of company stock valued at $1,402,173.

Analyst Ratings Changes

Several brokerages have commented on PGY. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research report on Friday, June 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Pagaya Technologies in a research report on Thursday, May 9th. Citigroup began coverage on shares of Pagaya Technologies in a research report on Friday, May 24th. They issued a “neutral” rating and a $14.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Pagaya Technologies in a research report on Friday, May 10th. Finally, Wedbush lowered their price objective on shares of Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.94.

Pagaya Technologies Price Performance

NASDAQ:PGY traded up $0.14 during mid-day trading on Wednesday, hitting $13.64. 571,938 shares of the stock traded hands, compared to its average volume of 1,166,182. The business’s 50-day moving average price is $11.78 and its 200 day moving average price is $13.06. The company has a market cap of $967.08 million, a PE ratio of -9.67 and a beta of 6.44. Pagaya Technologies Ltd. has a 12-month low of $8.56 and a 12-month high of $33.96. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.61.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.19). The firm had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $229.45 million. Pagaya Technologies had a negative net margin of 10.53% and a negative return on equity of 4.23%. During the same period in the prior year, the firm posted ($0.48) EPS. On average, analysts expect that Pagaya Technologies Ltd. will post -0.17 EPS for the current fiscal year.

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.