Pagaya Technologies Ltd. (PGY) – What Are Investment Firms Thinking About This Stock?

Pagaya Technologies Ltd. (NASDAQ:PGY) has been assigned a consensus recommendation of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $31.62.

Several research analysts have weighed in on PGY shares. Canaccord Genuity Group upped their price objective on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, July 31st. B. Riley Financial reiterated a “buy” rating and set a $38.00 price objective (up from $36.00) on shares of Pagaya Technologies in a report on Friday, October 30th. Citizens Jmp boosted their target price on shares of Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, July 31st. Jefferies Financial Group boosted their target price on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Finally, Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, Director Tami Rosen sold 8,504 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $20.38, for a total transaction of $173,311.52. Following the completion of the sale, the director directly owned 15,400 shares of the company’s stock, valued at approximately $313,852. The trade was a 35.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Sanjiv Das sold 14,300 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $17.04, for a total value of $243,672.00. Following the sale, the president directly owned 173,864 shares of the company’s stock, valued at $2,962,642.56. This represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 48,647 shares of company stock worth $931,283. Insiders own 41.99% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds have recently bought and sold shares of PGY. Global Retirement Partners LLC grew its stake in shares of Pagaya Technologies by 327.3% in the 3rd quarter. Global Retirement Partners LLC now owns 1,611 shares of the company’s stock worth $28,000 after acquiring an additional 1,234 shares in the last quarter. First Bancorp Inc ME purchased a new position in Pagaya Technologies during the second quarter worth about $36,000. Integrated Wealth Concepts LLC purchased a new position in Pagaya Technologies during the second quarter worth about $37,000. Allworth Financial LP grew its position in Pagaya Technologies by 300.4% in the 2nd quarter. Allworth Financial LP now owns 3,592 shares of the company’s stock worth $66,000 after purchasing an additional 2,695 shares in the last quarter. Finally, GK Wealth Management LLC bought a new position in shares of Pagaya Technologies during the 3rd quarter worth approximately $67,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Stock Performance

Shares of PGY remained flat at $16.87 during trading hours on Friday. The company had a trading volume of 1,219,092 shares, compared to its average volume of 1,927,802. Pagaya Technologies has a 12 month low of $10.40 and a 12 month high of $26.80. The stock’s 50 day moving average is $18.86 and its 200-day moving average is $16.35. The company has a debt-to-equity ratio of 1.22, a current ratio of 11.59 and a quick ratio of 11.59. The firm has a market cap of $1.42 billion, a P/E ratio of 10.22 and a beta of 5.67.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.60. The business had revenue of $390.49 million during the quarter, compared to the consensus estimate of $382.10 million. Pagaya Technologies had a net margin of 10.77% and a return on equity of 51.21%. Pagaya Technologies’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 EPS. On average, equities analysts forecast that Pagaya Technologies will post 3.56 EPS for the current year.

About Pagaya Technologies

Pagaya Technologies Ltd. is a financial technology company that provides artificial intelligence and data analytics tools to banks, lenders and other financial institutions. Its technology helps partners evaluate consumer credit applications and connect approved borrowers with funding from institutional investors. The company’s network supports lending products such as personal loans, auto loans and point-of-sale financing. Pagaya works with its partners to help expand their lending capacity while providing investors with access to credit-related assets.