Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Recommendation of “Moderate Buy” by Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY) has been given an average rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $20.61.

PGY has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They set a “neutral” rating and a $11.00 price target for the company. B. Riley reissued a “buy” rating and set a $36.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities lifted their price target on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Finally, Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $14.50 in a research note on Friday, February 7th.

Pagaya Technologies Stock Performance

Shares of PGY opened at $10.66 on Tuesday. Pagaya Technologies has a one year low of $8.20 and a one year high of $19.20. The company has a market cap of $802.68 million, a PE ratio of -1.94 and a beta of 5.98. The stock has a 50-day moving average of $11.55 and a 200-day moving average of $10.91. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). The firm had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same period last year, the business posted $0.24 EPS. On average, equities research analysts predict that Pagaya Technologies will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Evangelos Perros sold 21,305 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $212,410.85. Following the completion of the transaction, the chief financial officer now owns 54,029 shares in the company, valued at approximately $538,669.13. This represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tami Rosen sold 35,369 shares of Pagaya Technologies stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the sale, the insider now directly owns 38,181 shares in the company, valued at approximately $572,715. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,692 shares of company stock valued at $1,205,379 in the last 90 days. 49.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in shares of Pagaya Technologies in the third quarter valued at $191,000. Charles Schwab Investment Management Inc. increased its holdings in Pagaya Technologies by 17.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock worth $1,184,000 after acquiring an additional 16,533 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Pagaya Technologies by 13.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock valued at $176,000 after acquiring an additional 1,937 shares during the period. FMR LLC lifted its holdings in Pagaya Technologies by 8.3% during the third quarter. FMR LLC now owns 524,570 shares of the company’s stock valued at $5,545,000 after purchasing an additional 40,031 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Pagaya Technologies during the third quarter worth about $787,000. 57.14% of the stock is owned by 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.