Virtu Financial LLC Invests $223,000 in Pagaya Technologies Ltd. (NASDAQ:PGY)

Virtu Financial LLC bought a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 21,134 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. grew its stake in Pagaya Technologies by 4,374.9% during the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock valued at $3,296,000 after acquiring an additional 304,890 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Pagaya Technologies during the 3rd quarter valued at $617,000. ARK Investment Management LLC increased its holdings in shares of Pagaya Technologies by 36.2% in the second quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock worth $2,830,000 after purchasing an additional 58,939 shares during the period. Yarra Square Partners LP raised its position in shares of Pagaya Technologies by 29.9% in the second quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock worth $7,903,000 after buying an additional 142,500 shares in the last quarter. Finally, Millennium Management LLC grew its position in Pagaya Technologies by 455.9% during the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after buying an additional 179,235 shares in the last quarter. Institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Trading Down 6.7 %

Shares of PGY opened at $9.09 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. Pagaya Technologies Ltd. has a fifty-two week low of $8.20 and a fifty-two week high of $20.40. The firm has a 50 day moving average price of $10.82 and a 200-day moving average price of $12.06. The firm has a market cap of $669.53 million, a price-to-earnings ratio of -3.58 and a beta of 6.11.

Analyst Upgrades and Downgrades

PGY has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and issued a $21.00 target price on shares of Pagaya Technologies in a research note on Wednesday, October 16th. B. Riley decreased their price objective 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. Oppenheimer initiated coverage on shares of Pagaya Technologies in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target for the company. JMP Securities reissued a “market outperform” rating and issued a $25.00 price target on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Finally, Canaccord Genuity Group dropped their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.13.

Insiders Place Their Bets

In related news, insider Yahav Yulzari acquired 23,600 shares of the stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $10.52 per share, for a total transaction of $248,272.00. Following the completion of the transaction, the insider now owns 311,637 shares of the company’s stock, valued at $3,278,421.24. This trade represents a 8.19 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tami Rosen sold 17,570 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.06, for a total transaction of $211,894.20. Following the completion of the transaction, the insider now owns 73,516 shares in the company, valued at $886,602.96. This represents a 19.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 186,045 shares of company stock valued at $2,755,982 over the last three months. Insiders own 49.56% of the company’s stock.

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.