Brokerages Set Pagaya Technologies Ltd. (NASDAQ:PGY) PT at $24.25

Pagaya Technologies Ltd. (NASDAQ:PGY) has been given an average recommendation of “Moderate Buy” by the nine analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $22.89.

A number of research analysts have commented on the company. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Pagaya Technologies in a research note on Monday, August 12th. B. Riley decreased their price target on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Benchmark assumed coverage on Pagaya Technologies in a research report on Monday, August 26th. They set a “buy” rating and a $21.00 price objective on the stock. Canaccord Genuity Group cut their price objective on Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Oppenheimer assumed coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price objective on the stock.

Insider Transactions at Pagaya Technologies

In other news, CTO Avital Pardo sold 11,601 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $15.83, for a total transaction of $183,643.83. Following the completion of the sale, the chief technology officer now owns 433,125 shares in the company, valued at approximately $6,856,368.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Avital Pardo sold 11,601 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $15.83, for a total transaction of $183,643.83. Following the completion of the sale, the chief technology officer now owns 433,125 shares in the company, valued at approximately $6,856,368.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tami Rosen sold 8,025 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $14.70, for a total transaction of $117,967.50. Following the completion of the sale, the insider now owns 55,751 shares of the company’s stock, valued at approximately $819,539.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,453 shares of company stock worth $973,545. Company insiders own 19.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC increased its holdings in Pagaya Technologies by 50.1% in the second quarter. Cubist Systematic Strategies LLC now owns 43,813 shares of the company’s stock valued at $559,000 after buying an additional 14,629 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Pagaya Technologies during the 2nd quarter worth approximately $187,000. Millennium Management LLC increased its stake in shares of Pagaya Technologies by 455.9% during the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after purchasing an additional 179,235 shares in the last quarter. Yarra Square Partners LP increased its stake in shares of Pagaya Technologies by 29.9% during the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock worth $7,903,000 after purchasing an additional 142,500 shares in the last quarter. Finally, Divisadero Street Capital Management LP purchased a new position in shares of Pagaya Technologies during the 2nd quarter worth approximately $2,273,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Price Performance

NASDAQ:PGY opened at $10.41 on Tuesday. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $20.50. The stock has a 50 day moving average of $12.61 and a two-hundred day moving average of $12.06. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.72. The firm has a market cap of $738.07 million, a P/E ratio of -7.38 and a beta of 6.36.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Friday, August 9th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.11). Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. The company had revenue of $250.34 million for the quarter, compared to analyst estimates of $239.16 million. On average, analysts expect that Pagaya Technologies will post -0.11 earnings per share for the current fiscal year.

About Pagaya Technologies

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.