Pagaya Technologies Ltd. (NASDAQ:PGY) Given Consensus Rating of “Moderate Buy” by Analysts

Pagaya Technologies Ltd. (NASDAQ:PGY) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $33.1111.

PGY has been the topic of several analyst reports. Freedom Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a research note on Tuesday, February 3rd. Citigroup reduced their price objective on shares of Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Zacks Research cut shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings cut shares of Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Finally, Benchmark reduced their price objective on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $13.96 on Friday. The firm’s fifty day moving average price is $12.98 and its two-hundred day moving average price is $17.22. The stock has a market cap of $1.16 billion, a PE ratio of 13.05 and a beta of 5.42. Pagaya Technologies has a fifty-two week low of $10.40 and a fifty-two week high of $44.99. 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 (NASDAQ:PGY) last issued its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%.The business had revenue of $91.63 million during the quarter. On average, equities analysts expect that Pagaya Technologies will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Tami Rosen sold 9,720 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $15.14, for a total value of $147,160.80. Following the sale, the director owned 37,544 shares of the company’s stock, valued at $568,416.16. The trade was a 20.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Evangelos Perros sold 13,004 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $11.34, for a total transaction of $147,465.36. Following the completion of the sale, the chief financial officer directly owned 122,174 shares in the company, valued at approximately $1,385,453.16. This represents a 9.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,756 shares of company stock valued at $558,738 over the last 90 days. 47.59% of the stock is owned by insiders.

Institutional Trading of Pagaya Technologies

A number of institutional investors have recently bought and sold shares of PGY. AQR Capital Management LLC boosted its position in Pagaya Technologies by 2,722.3% during the first quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock valued at $3,204,000 after acquiring an additional 294,878 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Pagaya Technologies by 11.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock valued at $653,000 after acquiring an additional 6,365 shares during the last quarter. Millennium Management LLC boosted its position in Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after acquiring an additional 961,944 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Pagaya Technologies by 26.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after acquiring an additional 359,099 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Pagaya Technologies by 19.0% during the second quarter. Legal & General Group Plc now owns 34,909 shares of the company’s stock valued at $744,000 after acquiring an additional 5,580 shares during the last quarter. Institutional investors own 57.14% 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.