Investors Purchase Large Volume of Pagaya Technologies Call Options (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGY) saw unusually large options trading on Monday. Stock traders bought 14,639 call options on the company. This represents an increase of 216% compared to the typical daily volume of 4,638 call options.

Pagaya Technologies Price Performance

Pagaya Technologies stock traded up $0.07 during mid-day trading on Monday, reaching $19.30. The company had a trading volume of 532,634 shares, compared to its average volume of 3,375,798. The company has a market capitalization of $1.61 billion, a P/E ratio of 11.69 and a beta of 5.66. The company has a debt-to-equity ratio of 1.12, a current ratio of 11.08 and a quick ratio of 11.08. The stock’s 50-day simple moving average is $19.75 and its 200-day simple moving average is $16.58. Pagaya Technologies has a 1 year low of $10.40 and a 1 year high of $29.75.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.60. The business had revenue of $390.49 million during the quarter, compared to analysts’ expectations of $382.10 million. Pagaya Technologies had a return on equity of 52.60% and a net margin of 10.77%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $1.02 earnings per share. On average, equities analysts predict that Pagaya Technologies will post 3.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PGY shares. Zacks Research downgraded Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. TD Cowen lifted their price target on shares of Pagaya Technologies from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday. B. Riley Financial reiterated a “buy” rating and issued a $38.00 price objective (up from $36.00) on shares of Pagaya Technologies in a research note on Friday. Weiss Ratings restated a “hold (c-)” rating on shares of Pagaya Technologies in a research report on Monday, September 14th. Finally, Citizens Jmp lifted their target price on shares of Pagaya Technologies from $22.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $31.62.

Insider Transactions at Pagaya Technologies

In other news, CAO Cory Vieira sold 2,170 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $17.04, for a total value of $36,976.80. Following the completion of the transaction, the chief accounting officer owned 25,160 shares of the company’s stock, valued at approximately $428,726.40. This trade represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Sanjiv Das sold 14,300 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $17.04, for a total transaction of $243,672.00. Following the completion of the transaction, the president directly owned 173,864 shares of the company’s stock, valued at $2,962,642.56. This represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 48,647 shares of company stock worth $931,283 over the last ninety days. Company insiders own 41.99% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Bancorp Inc ME purchased a new position in Pagaya Technologies in the 2nd quarter valued at about $36,000. Integrated Wealth Concepts LLC purchased a new stake in Pagaya Technologies in the 2nd quarter valued at about $37,000. Allworth Financial LP increased its stake in shares of Pagaya Technologies by 300.4% during the 2nd quarter. Allworth Financial LP now owns 3,592 shares of the company’s stock valued at $66,000 after acquiring an additional 2,695 shares during the last quarter. GK Wealth Management LLC purchased a new position in shares of Pagaya Technologies during the 3rd quarter worth about $67,000. Finally, State of Wyoming boosted its position in shares of Pagaya Technologies by 150.3% in the first quarter. State of Wyoming now owns 6,532 shares of the company’s stock worth $76,000 after acquiring an additional 3,922 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. is a financial technology company that uses artificial intelligence and machine learning to help financial institutions expand access to credit and other financial products. Its technology platform analyzes large volumes of data to evaluate assets, identify investment opportunities and support lending decisions.

The company works with banks, lenders and other financial institutions, as well as institutional investors. Through its network-based platform, Pagaya helps partners originate loans and other assets while connecting those assets with institutional funding and capital markets solutions.