Investors Purchase High Volume of Pagaya Technologies Put Options (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGY) saw some unusual options trading activity on Monday. Stock investors purchased 32,234 put options on the stock. This is an increase of approximately 321% compared to the typical volume of 7,658 put options.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PGY. Citigroup dropped their target price on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Wall Street Zen downgraded Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Canaccord Genuity Group cut their target price on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Jefferies Financial Group cut their target price on shares of Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, Keefe, Bruyette & Woods decreased their price target on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, January 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Pagaya Technologies presently has an average rating of “Moderate Buy” and an average target price of $33.11.

Pagaya Technologies Trading Up 0.8%

Pagaya Technologies stock opened at $11.58 on Tuesday. Pagaya Technologies has a 1 year low of $8.50 and a 1 year high of $44.99. The firm’s 50-day moving average is $17.65 and its 200-day moving average is $25.06. The company has a debt-to-equity ratio of 1.22, a quick ratio of 10.55 and a current ratio of 10.55. The company has a market cap of $931.03 million, a P/E ratio of 13.01 and a beta of 5.92.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Monday, February 9th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.05. The firm had revenue of $334.81 million for the quarter, compared to analyst estimates of $348.75 million. Pagaya Technologies had a net margin of 6.25% and a return on equity of 44.24%. Pagaya Technologies’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, equities analysts expect that Pagaya Technologies will post 0.88 earnings per share for the current year.

Insider Activity

In other news, insider Tami Rosen sold 7,561 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $30.73, for a total transaction of $232,349.53. Following the transaction, the insider directly owned 37,544 shares of the company’s stock, valued at approximately $1,153,727.12. The trade was a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Sanjiv Das sold 3,945 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $22.99, for a total transaction of $90,695.55. Following the sale, the president directly owned 129,986 shares of the company’s stock, valued at approximately $2,988,378.14. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,256 shares of company stock worth $547,198 over the last 90 days. Company insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Moody National Bank Trust Division boosted its holdings in shares of Pagaya Technologies by 2.4% during the fourth quarter. Moody National Bank Trust Division now owns 28,978 shares of the company’s stock valued at $606,000 after acquiring an additional 666 shares during the period. Main Management ETF Advisors LLC boosted its stake in Pagaya Technologies by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 72,036 shares of the company’s stock valued at $1,506,000 after purchasing an additional 736 shares during the period. SBI Securities Co. Ltd. grew its position in Pagaya Technologies by 5.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 16,493 shares of the company’s stock worth $345,000 after purchasing an additional 790 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of Pagaya Technologies during the third quarter worth approximately $25,000. Finally, MetLife Investment Management LLC grew its holdings in Pagaya Technologies by 3.2% in the 4th quarter. MetLife Investment Management LLC now owns 27,845 shares of the company’s stock worth $582,000 after buying an additional 867 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors.

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.