Pagaya Technologies (NASDAQ:PGY) Stock Price Down 4.7% – Time to Sell?

Pagaya Technologies Ltd. (NASDAQ:PGY)’s share price was down 4.7% during trading on Monday . The company traded as low as $11.10 and last traded at $11.13. Approximately 527,493 shares changed hands during trading, a decline of 58% from the average daily volume of 1,253,682 shares. The stock had previously closed at $11.68.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wedbush reiterated a “neutral” rating and issued a $13.00 target price on shares of Pagaya Technologies in a research note on Monday, August 12th. JMP Securities reissued a “market outperform” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Benchmark reiterated a “buy” rating and issued a $21.00 price objective on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Canaccord Genuity Group reduced their price objective on Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, B. Riley lowered their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Pagaya Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $22.89.

Pagaya Technologies Stock Down 8.5 %

The company has a market capitalization of $767.70 million, a price-to-earnings ratio of -5.49 and a beta of 6.33. The business has a 50-day moving average price of $11.87 and a 200-day moving average price of $12.19. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $250.34 million for the quarter, compared to analyst estimates of $239.16 million. As a group, equities analysts anticipate that Pagaya Technologies Ltd. will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Yahav Yulzari bought 23,600 shares of Pagaya Technologies stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $10.52 per share, for a total transaction of $248,272.00. Following the purchase, the insider now directly owns 311,637 shares of the company’s stock, valued at approximately $3,278,421.24. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Yahav Yulzari bought 23,600 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $10.52 per share, for a total transaction of $248,272.00. Following the completion of the transaction, the insider now owns 311,637 shares in the company, valued at $3,278,421.24. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Avital Pardo sold 11,601 shares of Pagaya Technologies stock in a transaction on Friday, August 9th. The stock was sold at an average price of $15.83, for a total transaction of $183,643.83. Following the sale, the chief technology officer now directly owns 433,125 shares in the company, valued at $6,856,368.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,079 shares of company stock worth $494,849. 19.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PGY. Allspring Global Investments Holdings LLC acquired a new stake in Pagaya Technologies during the 1st quarter valued at approximately $12,686,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Pagaya Technologies by 14.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock worth $6,818,000 after purchasing an additional 83,913 shares during the last quarter. Sei Investments Co. bought a new stake in Pagaya Technologies during the 1st quarter valued at approximately $1,101,000. Castle Hook Partners LP purchased a new position in Pagaya Technologies during the 1st quarter valued at $188,000. Finally, Hood River Capital Management LLC bought a new position in shares of Pagaya Technologies in the 1st quarter worth $9,265,000. Institutional investors own 57.14% of the company’s stock.

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.