Pagaya Technologies (NASDAQ:PGY) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Pagaya Technologies (NASDAQ:PGY) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

PGY has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Friday, January 9th. Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday. Canaccord Genuity Group boosted their price target on shares of Pagaya Technologies from $36.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen cut shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Keefe, Bruyette & Woods reduced their target price on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, January 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pagaya Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Pagaya Technologies Stock Performance

PGY stock opened at $16.65 on Tuesday. Pagaya Technologies has a twelve month low of $8.50 and a twelve month high of $44.99. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.16. The company has a market cap of $1.34 billion, a P/E ratio of -6.24 and a beta of 5.85. The business’s fifty day moving average is $22.48 and its 200-day moving average is $28.03.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Monday, November 10th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.46. Pagaya Technologies had a positive return on equity of 31.59% and a negative net margin of 15.32%.The business had revenue of $350.17 million during the quarter, compared to the consensus estimate of $338.86 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The firm’s revenue was up 36.3% on a year-over-year basis. Equities research analysts forecast that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 7,561 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $30.73, for a total value of $232,349.53. Following the sale, the insider owned 37,544 shares in the company, valued at approximately $1,153,727.12. The trade was a 16.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Sanjiv Das sold 3,945 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $22.99, for a total transaction of $90,695.55. Following the transaction, the president directly owned 129,986 shares of the company’s stock, valued at $2,988,378.14. This represents a 2.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,256 shares of company stock valued at $547,198 over the last three months. Company insiders own 47.59% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. World Investment Advisors acquired a new stake in shares of Pagaya Technologies in the 4th quarter valued at approximately $1,164,000. Bailard Inc. raised its position in Pagaya Technologies by 81.2% during the fourth quarter. Bailard Inc. now owns 12,500 shares of the company’s stock worth $261,000 after acquiring an additional 5,600 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Pagaya Technologies by 5.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 16,493 shares of the company’s stock valued at $345,000 after acquiring an additional 790 shares during the last quarter. Truist Financial Corp acquired a new stake in Pagaya Technologies in the fourth quarter valued at $242,000. Finally, New York State Teachers Retirement System bought a new position in shares of Pagaya Technologies in the 4th quarter valued at about $88,000. Institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

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.