Pagaya Technologies (NASDAQ:PGY) Trading 7.1% Higher – Still a Buy?

Pagaya Technologies Ltd. (NASDAQ:PGY)’s share price was up 7.1% during trading on Monday . The stock traded as high as $12.09 and last traded at $12.18. Approximately 362,362 shares traded hands during trading, a decline of 79% from the average daily volume of 1,692,548 shares. The stock had previously closed at $11.37.

Analyst Ratings Changes

Several brokerages recently weighed in on PGY. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities boosted their price target on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. UBS Group assumed coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price objective for the company. Finally, B. Riley reissued a “buy” rating and set a $36.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Pagaya Technologies currently has an average rating of “Moderate Buy” and an average price target of $20.61.

Pagaya Technologies Price Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $908.18 million, a price-to-earnings ratio of -2.24 and a beta of 5.98. The business’s 50 day simple moving average is $11.25 and its 200-day simple moving average is $10.92.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The business had revenue of $279.39 million for the quarter, compared to analyst estimates of $264.28 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Tami Rosen sold 35,369 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $15.00, for a total transaction of $530,535.00. Following the sale, the insider now owns 38,181 shares of the company’s stock, valued at $572,715. The trade was a 48.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Evangelos Perros sold 21,305 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $212,410.85. Following the transaction, the chief financial officer now directly owns 54,029 shares of the company’s stock, valued at approximately $538,669.13. The trade was a 28.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,692 shares of company stock valued at $1,205,379 over the last 90 days. 49.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

Several large investors have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Pagaya Technologies during the 4th quarter valued at $30,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth $43,000. Nisa Investment Advisors LLC purchased a new stake in shares of Pagaya Technologies during the fourth quarter valued at $57,000. KLP Kapitalforvaltning AS acquired a new position in shares of Pagaya Technologies in the 4th quarter valued at $67,000. Finally, Jefferies Financial Group Inc. purchased a new position in Pagaya Technologies in the 4th quarter worth about $93,000. 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.