SCHEDULE 13G/A: BlackRock Discloses 5.3% Passive Stake in Pagaya Technologies Ltd.

BlackRock, Inc. has filed an amended Schedule 13G, reporting a beneficial ownership of 5.3% of Pagaya Technologies Ltd.'s common stock as of December 31, 2024.

Summary

• BlackRock, Inc. filed an Amendment No. 1 to Schedule 13G, indicating its beneficial ownership in Pagaya Technologies Ltd.
• As of December 31, 2024, BlackRock, Inc. beneficially owned 3,203,156 shares of Pagaya Technologies Ltd. Common Stock.
• This aggregate amount represents 5.3% of the total outstanding common stock of Pagaya Technologies Ltd.
• BlackRock, Inc. holds sole voting power over 3,086,646 shares and sole dispositive power over 3,203,156 shares.
• The filing confirms that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
• BlackRock, Inc. is classified as a parent holding company (HC) for the purpose of this filing.
• Several BlackRock subsidiaries are identified as entities through which the beneficial ownership is held, including BlackRock Investment Management, LLC, which beneficially owns 5% or greater of the outstanding shares.

Sentiment

Score: 7

Explanation: The filing indicates a significant, passive ownership stake by a major institutional investor, which can be viewed as a positive signal of confidence in the issuer, although it is a routine compliance disclosure and does not imply active management or a change in strategy.

Positives

• The continued disclosure of a significant passive stake by a major institutional investor like BlackRock, Inc. may signal ongoing institutional confidence in Pagaya Technologies Ltd.

Risks

• The document does not detail specific risks related to Pagaya Technologies Ltd.'s operations or financial performance. The primary risk implied by this type of filing is the potential for changes in BlackRock's ownership stake, which is a standard market dynamic.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding Pagaya Technologies Ltd.'s future performance or BlackRock's future investment intentions beyond the current beneficial ownership disclosure.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing is a routine disclosure by BlackRock, Inc., one of the world's largest asset managers, regarding its passive investment in Pagaya Technologies Ltd., a company operating in the financial technology sector. Such filings are common for large institutional investors that cross the 5% ownership threshold in publicly traded companies.

Stakeholder Impact

• Shareholders: The disclosure confirms a significant institutional holder, which can provide a degree of stability and confidence in the stock's ownership structure.

Key Dates

Keywords

Pagaya Technologies, BlackRock, SEC filing, Schedule 13G, beneficial ownership, common stock, institutional investor, passive investment, financial technology