Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $33.1111.

A number of equities analysts have issued reports on PGY shares. Wall Street Zen cut Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Citigroup decreased their price objective on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday. Keefe, Bruyette & Woods dropped their target price on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, January 2nd. Zacks Research downgraded Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Canaccord Genuity Group decreased their price target on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday.

Insider Activity at Pagaya Technologies

In other news, President Sanjiv Das sold 3,945 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $22.99, for a total transaction of $90,695.55. Following the completion of the transaction, the president directly owned 129,986 shares in the company, valued at $2,988,378.14. This represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Evangelos Perros sold 9,750 shares of Pagaya Technologies stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $224,152.50. Following the completion of the sale, the chief financial officer directly owned 100,212 shares in the company, valued at approximately $2,303,873.88. This represents a 8.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 21,256 shares of company stock valued at $547,198. Corporate insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its position in shares of Pagaya Technologies by 35.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after purchasing an additional 520 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Pagaya Technologies by 8.6% in the second quarter. Nisa Investment Advisors LLC now owns 6,676 shares of the company’s stock valued at $142,000 after buying an additional 526 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of Pagaya Technologies by 2.4% in the fourth quarter. Moody National Bank Trust Division now owns 28,978 shares of the company’s stock valued at $606,000 after buying an additional 666 shares in the last quarter. Main Management ETF Advisors LLC increased its holdings in Pagaya Technologies by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 72,036 shares of the company’s stock worth $1,506,000 after buying an additional 736 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Pagaya Technologies by 5.0% during the fourth quarter. SBI Securities Co. Ltd. now owns 16,493 shares of the company’s stock worth $345,000 after acquiring an additional 790 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Stock Performance

Shares of PGY opened at $12.40 on Friday. The firm has a market cap of $996.96 million, a P/E ratio of 13.93 and a beta of 5.85. Pagaya Technologies has a twelve month low of $8.50 and a twelve month high of $44.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 11.41 and a current ratio of 11.41. The firm’s 50 day moving average price is $21.50 and its two-hundred day moving average price is $27.42.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Monday, February 9th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. The company had revenue of $334.81 million during the quarter, compared to the consensus estimate of $348.75 million. Pagaya Technologies had a net margin of 6.25% and a return on equity of 45.94%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. On average, analysts forecast that Pagaya Technologies will post 0.88 EPS for the current fiscal year.

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.