Deuterium Capital Management LLC Cuts Stake in Pagaya Technologies Ltd. (NASDAQ:PGY)

Deuterium Capital Management LLC lessened its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 91.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,367 shares of the company’s stock after selling 202,039 shares during the quarter. Deuterium Capital Management LLC’s holdings in Pagaya Technologies were worth $186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PGY. Citigroup Inc. increased its stake in Pagaya Technologies by 88.0% in the 3rd quarter. Citigroup Inc. now owns 309,747 shares of the company’s stock worth $489,000 after purchasing an additional 145,004 shares during the period. Capricorn Fund Managers Ltd raised its holdings in Pagaya Technologies by 12.6% during the 4th quarter. Capricorn Fund Managers Ltd now owns 1,736,073 shares of the company’s stock valued at $2,396,000 after buying an additional 194,073 shares during the last quarter. ARK Investment Management LLC boosted its position in Pagaya Technologies by 58.8% during the 4th quarter. ARK Investment Management LLC now owns 1,489,697 shares of the company’s stock valued at $2,056,000 after buying an additional 551,520 shares during the period. MBE Wealth Management LLC purchased a new stake in Pagaya Technologies during the 4th quarter valued at $31,000. Finally, Swiss National Bank bought a new stake in Pagaya Technologies in the 4th quarter worth $658,000. 57.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PGY has been the subject of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and set a $25.00 target price on shares of Pagaya Technologies in a report on Friday, June 7th. Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of Pagaya Technologies in a research report on Friday, May 10th. Citigroup initiated coverage on shares of Pagaya Technologies in a research report on Friday, May 24th. They set a “neutral” rating and a $14.00 price target on the stock. Keefe, Bruyette & Woods started coverage on shares of Pagaya Technologies in a report on Monday, June 17th. They issued an “outperform” rating and a $23.00 price objective for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 target price on shares of Pagaya Technologies in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pagaya Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $26.94.

Insiders Place Their Bets

In related news, CFO Evangelos Perros sold 11,293 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $12.15, for a total transaction of $137,209.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pagaya Technologies news, CFO Evangelos Perros sold 11,293 shares of Pagaya Technologies stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $12.15, for a total value of $137,209.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Nicole Torraco sold 4,743 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $12.04, for a total value of $57,105.72. The disclosure for this sale can be found here. 19.70% of the stock is currently owned by corporate insiders.

Pagaya Technologies Stock Performance

Shares of PGY stock traded down $0.03 during mid-day trading on Friday, reaching $13.02. 584,431 shares of the company’s stock traded hands, compared to its average volume of 1,142,694. Pagaya Technologies Ltd. has a 12 month low of $8.56 and a 12 month high of $33.96. The firm has a 50 day moving average price of $12.21 and a two-hundred day moving average price of $12.86. The firm has a market capitalization of $923.12 million, a PE ratio of -9.23 and a beta of 6.44. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.36 and a current ratio of 2.36.

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

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.