Pagaya Technologies (NASDAQ:PGY) Stock Sees Heavy Call Option Buying

Pagaya Technologies Ltd. (NASDAQ:PGY) was the recipient of some unusual options trading on Monday. Investors purchased 14,639 call options on the stock. This represents an increase of approximately 216% compared to the typical daily volume of 4,638 call options.

Pagaya Technologies Price Performance

NASDAQ:PGY opened at $17.80 on Wednesday. The company has a market cap of $1.49 billion, a P/E ratio of 5.49 and a beta of 5.67. The company has a debt-to-equity ratio of 1.12, a current ratio of 11.08 and a quick ratio of 11.08. Pagaya Technologies has a one year low of $10.40 and a one year high of $29.75. The firm’s fifty day moving average price is $19.60 and its two-hundred day moving average price is $16.52.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.60. The firm 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 52.60%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. Equities analysts expect that Pagaya Technologies will post 3.36 earnings per share for the current year.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, Director Tami Rosen sold 1,986 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $17.83, for a total value of $35,410.38. Following the completion of the transaction, the director directly owned 13,414 shares in the company, valued at $239,171.62. This trade represents a 12.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Cory Vieira sold 2,170 shares of the business’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $17.04, for a total value of $36,976.80. Following the transaction, the chief accounting officer owned 25,160 shares in the company, valued at $428,726.40. This represents a 7.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 48,647 shares of company stock valued at $931,283. Corporate insiders own 41.99% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

A number of large investors have recently added to or reduced their stakes in PGY. First Bancorp Inc ME bought a new position in Pagaya Technologies in the second quarter valued at approximately $36,000. Integrated Wealth Concepts LLC bought a new stake in shares of Pagaya Technologies during the 2nd quarter worth $37,000. Allworth Financial LP boosted its stake in Pagaya Technologies by 300.4% in the second quarter. Allworth Financial LP now owns 3,592 shares of the company’s stock valued at $66,000 after buying an additional 2,695 shares in the last quarter. GK Wealth Management LLC acquired a new stake in Pagaya Technologies in the third quarter valued at about $67,000. Finally, State of Wyoming grew its position in Pagaya Technologies by 150.3% in the first quarter. State of Wyoming now owns 6,532 shares of the company’s stock valued at $76,000 after acquiring an additional 3,922 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PGY shares. TD Cowen boosted their target price on Pagaya Technologies from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Jefferies Financial Group upped their target price on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Zacks Research downgraded Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Canaccord Genuity Group raised their target price on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Citizens Jmp upped their target price on Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $31.62.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence and machine learning to help financial institutions expand access to credit and other financial products. Its technology platform analyzes large volumes of data to evaluate assets, identify investment opportunities and support lending decisions.

The company works with banks, lenders and other financial institutions, as well as institutional investors. Through its network-based platform, Pagaya helps partners originate loans and other assets while connecting those assets with institutional funding and capital markets solutions.