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

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have received an average rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $33.1111.

PGY has been the subject of a number of recent analyst reports. Freedom Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research report on Tuesday, February 3rd. Citigroup decreased their price objective on shares of Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Benchmark dropped their target price on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. 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. Finally, Keefe, Bruyette & Woods decreased their price target on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, January 2nd.

Insider Activity at Pagaya Technologies

In related news, CFO Evangelos Perros sold 9,750 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $224,152.50. Following the sale, the chief financial officer owned 100,212 shares in the company, valued at approximately $2,303,873.88. The trade was a 8.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Sanjiv Das sold 3,945 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $90,695.55. Following the transaction, the president directly owned 129,986 shares in the company, valued at approximately $2,988,378.14. The trade was a 2.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 21,256 shares of company stock worth $547,198. 47.59% of the stock is currently owned by company insiders.

Institutional Trading of Pagaya Technologies

Several hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in shares of Pagaya Technologies by 436.9% in the second quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock valued at $29,534,000 after purchasing an additional 1,127,242 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Pagaya Technologies by 1,231.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after buying an additional 1,110,208 shares in the last quarter. Millennium Management LLC boosted its position in Pagaya Technologies by 320.1% in the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after buying an additional 961,944 shares during the period. Goldman Sachs Group Inc. boosted its position in Pagaya Technologies by 221.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company’s stock valued at $28,833,000 after buying an additional 950,443 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Pagaya Technologies by 1,556.3% in the third quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock worth $19,952,000 after acquiring an additional 631,435 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $11.58 on Tuesday. The stock has a market cap of $931.03 million, a PE ratio of 13.01 and a beta of 5.92. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 1.22. Pagaya Technologies has a twelve month low of $8.50 and a twelve month high of $44.99. The stock has a fifty day simple moving average of $17.65 and a 200-day simple moving average of $25.06.

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, beating the consensus estimate of $0.75 by $0.05. Pagaya Technologies had a net margin of 6.25% and a return on equity of 44.24%. The firm had revenue of $334.81 million for the quarter, compared to analyst estimates of $348.75 million. During the same period in the previous year, the firm earned $0.17 EPS. Pagaya Technologies’s revenue was up 19.8% on a year-over-year basis. Equities analysts anticipate that Pagaya Technologies will post 0.88 earnings per share for the current 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.