Pagaya Technologies (NASDAQ:PGY) Shares Up 3.9%

Pagaya Technologies Ltd. (NASDAQ:PGY) traded up 3.9% during trading on Wednesday . The stock traded as high as $12.60 and last traded at $12.44. 212,967 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,133,548 shares. The stock had previously closed at $11.97.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JMP Securities reissued a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Benchmark initiated coverage on shares of Pagaya Technologies in a research note on Monday, August 26th. They issued a “buy” rating and a $21.00 price objective for the company. Keefe, Bruyette & Woods initiated coverage on shares of Pagaya Technologies in a research note on Monday, June 17th. They issued an “outperform” rating and a $23.00 price target for the company. Wedbush reiterated a “neutral” rating and issued a $13.00 price target on shares of Pagaya Technologies in a research note on Monday, August 12th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 price target on shares of Pagaya Technologies in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Pagaya Technologies Trading Up 3.9 %

The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The business’s fifty day simple moving average is $13.31 and its two-hundred day simple moving average is $12.17. The company has a market cap of $882.00 million, a price-to-earnings ratio of -8.58 and a beta of 6.41.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data 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 company had revenue of $250.34 million for the quarter, compared to analyst estimates of $239.16 million. On average, equities analysts predict that Pagaya Technologies Ltd. will post -0.11 EPS for the current year.

Insider Activity

In other Pagaya Technologies news, CFO Evangelos Perros sold 24,171 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $13.55, for a total transaction of $327,517.05. Following the sale, the chief financial officer now directly owns 23,791 shares in the company, valued at approximately $322,368.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pagaya Technologies news, CFO Evangelos Perros sold 24,171 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $13.55, for a total value of $327,517.05. Following the completion of the transaction, the chief financial officer now owns 23,791 shares in the company, valued at approximately $322,368.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tami Rosen sold 8,025 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total value of $117,967.50. Following the completion of the transaction, the insider now owns 55,751 shares of the company’s stock, valued at approximately $819,539.70. The disclosure for this sale can be found here. Insiders have sold 68,203 shares of company stock valued at $995,963 in the last ninety days. 19.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new position in shares of Pagaya Technologies during the 4th quarter valued at approximately $1,079,000. Swiss National Bank purchased a new position in shares of Pagaya Technologies during the 4th quarter valued at approximately $658,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Pagaya Technologies during the 1st quarter valued at approximately $12,686,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Pagaya Technologies by 14.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock valued at $6,818,000 after buying an additional 83,913 shares during the last quarter. Finally, ARK Investment Management LLC boosted its stake in shares of Pagaya Technologies by 36.2% during the 2nd quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock valued at $2,830,000 after buying an additional 58,939 shares during the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

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.