Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $20.61.

A number of research firms recently commented on PGY. Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. JMP Securities upped their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. Finally, B. Riley restated a “buy” rating and set a $36.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th.

Pagaya Technologies Trading Down 2.5%

PGY opened at $14.96 on Wednesday. Pagaya Technologies has a one year low of $8.20 and a one year high of $19.20. The stock has a market capitalization of $1.13 billion, a PE ratio of -2.72 and a beta of 5.88. The business’s 50 day moving average price is $10.83 and its 200 day moving average price is $10.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The business had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, equities research analysts expect that Pagaya Technologies will post 0.88 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Avital Pardo sold 237,748 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,604,259.68. Following the sale, the chief technology officer now directly owns 2,401,528 shares in the company, valued at approximately $36,407,164.48. This trade represents a 9.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yahav Yulzari sold 238,004 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $15.16, for a total value of $3,608,140.64. Following the completion of the sale, the insider now owns 4,346,141 shares in the company, valued at approximately $65,887,497.56. The trade was a 5.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,910 shares of company stock worth $7,862,512 over the last ninety days. Corporate insiders own 49.56% of the company’s stock.

Institutional Trading of Pagaya Technologies

Several hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC acquired a new stake in shares of Pagaya Technologies in the first quarter valued at $107,000. American Century Companies Inc. increased its holdings in Pagaya Technologies by 297.0% in the first quarter. American Century Companies Inc. now owns 163,450 shares of the company’s stock valued at $1,713,000 after buying an additional 122,277 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Pagaya Technologies in the first quarter valued at $521,000. Nuveen LLC purchased a new position in Pagaya Technologies in the first quarter valued at $6,465,000. Finally, Virtu Financial LLC increased its holdings in Pagaya Technologies by 26.2% in the first quarter. Virtu Financial LLC now owns 18,656 shares of the company’s stock valued at $196,000 after buying an additional 3,869 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Pagaya Technologies Company 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.