Clal Insurance Enterprises Holdings Ltd Sells 345,000 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Clal Insurance Enterprises Holdings Ltd decreased its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 19.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,414,349 shares of the company’s stock after selling 345,000 shares during the quarter. Clal Insurance Enterprises Holdings Ltd owned 1.97% of Pagaya Technologies worth $14,950,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PGY. nVerses Capital LLC bought a new position in shares of Pagaya Technologies in the second quarter worth $74,000. SG Americas Securities LLC acquired a new position in shares of Pagaya Technologies in the 2nd quarter valued at approximately $101,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Pagaya Technologies during the 2nd quarter worth approximately $166,000. The Manufacturers Life Insurance Company bought a new stake in shares of Pagaya Technologies during the 2nd quarter worth approximately $187,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Pagaya Technologies during the 3rd quarter worth approximately $191,000. Institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Trading Up 6.3 %

Shares of NASDAQ PGY opened at $9.57 on Friday. Pagaya Technologies Ltd. has a 1 year low of $8.20 and a 1 year high of $20.50. 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 $11.24 and a 200 day simple moving average of $12.27.

Insider Activity

In related news, President Sanjiv Das sold 10,683 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $11.77, for a total value of $125,738.91. Following the sale, the president now directly owns 64,794 shares in the company, valued at $762,625.38. This represents a 14.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Yahav Yulzari sold 150,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the sale, the insider now directly owns 161,637 shares of the company’s stock, valued at $2,505,373.50. This represents a 48.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,045 shares of company stock valued at $2,755,982. Insiders own 49.56% of the company’s stock.

Wall Street Analysts Forecast Growth

PGY has been the subject of several research analyst reports. Oppenheimer assumed coverage on shares of Pagaya Technologies in a research report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price objective for the company. Canaccord Genuity Group lowered their price target on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. B. Riley dropped their target price on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Benchmark reaffirmed a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.

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.