Pagaya Technologies (NASDAQ:PGY) Stock Price Up 5.6%

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) traded up 5.6% on Monday . The company traded as high as $13.30 and last traded at $13.25. 520,072 shares were traded during trading, a decline of 54% from the average session volume of 1,134,859 shares. The stock had previously closed at $12.55.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PGY. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price target on shares of Pagaya Technologies in a research report on Monday, August 12th. Wedbush reiterated a “neutral” rating and set a $13.00 target price on shares of Pagaya Technologies in a research report on Monday, August 12th. JMP Securities restated a “market outperform” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods began coverage on Pagaya Technologies in a report on Monday, June 17th. They issued an “outperform” rating and a $23.00 price objective for the company. Finally, Citigroup initiated coverage on Pagaya Technologies in a report on Friday, May 24th. They set a “neutral” rating and a $14.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Pagaya Technologies has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Pagaya Technologies Stock Up 3.0 %

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 company has a market capitalization of $916.74 million, a P/E ratio of -9.51 and a beta of 6.41. The firm’s 50 day moving average price is $13.45 and its two-hundred day moving average price is $12.41.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.15) EPS 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 business had revenue of $250.34 million for the quarter, compared to the consensus estimate of $239.16 million. Equities research analysts forecast that Pagaya Technologies Ltd. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Yahav Yulzari sold 11,662 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $15.78, for a total transaction of $184,026.36. Following the transaction, the executive now directly owns 288,037 shares of the company’s stock, valued at approximately $4,545,223.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pagaya Technologies news, CRO Yahav Yulzari sold 11,662 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.78, for a total transaction of $184,026.36. Following the completion of the sale, the executive now directly owns 288,037 shares in the company, valued at $4,545,223.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicole Torraco sold 4,743 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.04, for a total value of $57,105.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,239 shares of company stock valued at $1,190,278. 19.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Yarra Square Partners LP bought a new stake in shares of Pagaya Technologies during the 4th quarter valued at $4,099,000. Allspring Global Investments Holdings LLC bought a new stake in Pagaya Technologies during the first quarter worth about $12,686,000. Hood River Capital Management LLC acquired a new stake in Pagaya Technologies during the first quarter worth about $9,265,000. Quadrature Capital Ltd bought a new position in Pagaya Technologies in the 4th quarter valued at about $1,079,000. Finally, Swiss National Bank acquired a new position in shares of Pagaya Technologies in the 4th quarter valued at approximately $658,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

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.