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

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

Analysts Set New Price Targets

A number of research analysts have recently commented on PGY shares. Wedbush reaffirmed a “neutral” rating and set a $13.00 target price on shares of Pagaya Technologies in a research note on Monday, August 12th. Benchmark started coverage on Pagaya Technologies in a research note on Monday, August 26th. They set a “buy” rating and a $21.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Pagaya Technologies in a research note on Monday, August 12th. Citigroup started coverage on Pagaya Technologies in a research note on Friday, May 24th. They set a “neutral” rating and a $14.00 target price on the stock. Finally, Keefe, Bruyette & Woods started coverage on Pagaya Technologies in a research note on Monday, June 17th. They set an “outperform” rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Pagaya Technologies Stock Performance

The company has a market cap of $879.87 million, a P/E ratio of -8.80 and a beta of 6.41. The firm has a 50 day moving average of $13.44 and a 200-day moving average of $12.30. 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 announced its quarterly earnings data on Friday, August 9th. The company reported ($0.15) earnings per share (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 firm had revenue of $250.34 million during the quarter, compared to the consensus estimate of $239.16 million. As a group, sell-side analysts anticipate that Pagaya Technologies Ltd. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, Director Nicole Torraco sold 4,743 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $12.04, for a total transaction of $57,105.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Evangelos Perros sold 11,293 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $12.15, for a total transaction of $137,209.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nicole Torraco sold 4,743 shares of the stock in a transaction on Thursday, June 20th. The shares were 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. In the last 90 days, 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

Several hedge funds and other institutional investors have recently made changes to their positions in PGY. Allspring Global Investments Holdings LLC purchased a new stake in shares of Pagaya Technologies during the 1st quarter valued at $12,686,000. Hood River Capital Management LLC purchased a new position in Pagaya Technologies in the 1st quarter worth $9,265,000. Quadrature Capital Ltd purchased a new position in Pagaya Technologies in the 4th quarter worth $1,079,000. Swiss National Bank purchased a new position in Pagaya Technologies in the 4th quarter worth $658,000. Finally, Millennium Management LLC raised its stake in Pagaya Technologies by 455.9% in the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after acquiring an additional 179,235 shares during the last quarter. Hedge funds and other institutional investors 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.