Nicholas Wealth LLC. Invests $965,000 in Pagaya Technologies Ltd. $PGY

Nicholas Wealth LLC. purchased a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 46,151 shares of the company’s stock, valued at approximately $965,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PGY. AQR Capital Management LLC grew its stake in shares of Pagaya Technologies by 2,722.3% during the 1st quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock worth $3,204,000 after acquiring an additional 294,878 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pagaya Technologies by 11.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock worth $653,000 after acquiring an additional 6,365 shares during the period. Millennium Management LLC grew its stake in shares of Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after acquiring an additional 961,944 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Pagaya Technologies by 26.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock worth $17,871,000 after acquiring an additional 359,099 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Pagaya Technologies by 19.0% during the 2nd quarter. Legal & General Group Plc now owns 34,909 shares of the company’s stock worth $744,000 after acquiring an additional 5,580 shares during the period. Institutional investors own 57.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Canaccord Genuity Group reissued a “buy” rating and set a $32.00 price objective on shares of Pagaya Technologies in a report on Monday, May 18th. Finally, Weiss Ratings cut Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $34.50.

Pagaya Technologies Stock Performance

Shares of PGY opened at $15.61 on Wednesday. The stock’s 50-day simple moving average is $13.97 and its 200 day simple moving average is $16.43. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 14.59 and a beta of 5.35. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. The company had revenue of $91.63 million for the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%. Research analysts forecast that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Pagaya Technologies news, CAO Cory Vieira sold 2,140 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.01, for a total value of $32,121.40. Following the transaction, the chief accounting officer directly owned 18,179 shares in the company, valued at $272,866.79. This represents a 10.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Evangelos Perros sold 11,558 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $16.23, for a total value of $187,586.34. Following the completion of the transaction, the insider owned 131,241 shares in the company, valued at $2,130,041.43. This represents a 8.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 55,412 shares of company stock worth $822,542. Company insiders own 47.59% of the company’s stock.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.