Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Average Recommendation of “Buy” from Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been assigned an average rating of “Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $35.8571.

Several equities research analysts have issued reports on the company. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Zacks Research cut Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Canaccord Genuity Group reissued a “buy” rating and set a $32.00 price target on shares of Pagaya Technologies in a research report on Monday, May 18th. Finally, Weiss Ratings upgraded shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th.

Pagaya Technologies Price Performance

Shares of NASDAQ PGY opened at $17.99 on Monday. Pagaya Technologies has a 1 year low of $10.40 and a 1 year high of $44.99. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 16.81 and a beta of 5.32. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. The stock’s 50-day simple moving average is $15.20 and its 200-day simple moving average is $15.56.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Sunday, March 22nd. The company reported ($40.85) EPS for the quarter. The business had revenue of $91.63 million during the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%. As a group, equities analysts anticipate that Pagaya Technologies will post 2.92 earnings per share for the current fiscal year.

Insider Activity at Pagaya Technologies

In other news, President Sanjiv Das sold 14,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $15.83, for a total value of $221,620.00. Following the completion of the sale, the president owned 165,475 shares of the company’s stock, valued at approximately $2,619,469.25. The trade was a 7.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gal Krubiner bought 16,230 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was bought at an average cost of $15.43 per share, with a total value of $250,428.90. Following the transaction, the chief executive officer directly owned 555,906 shares in the company, valued at approximately $8,577,629.58. The trade was a 3.01% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 67,810 shares of company stock worth $1,070,925 over the last 90 days. Company insiders own 41.99% of the company’s stock.

Institutional Trading of Pagaya Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Segall Bryant & Hamill LLC lifted its holdings in Pagaya Technologies by 81.0% during the 1st quarter. Segall Bryant & Hamill LLC now owns 118,459 shares of the company’s stock worth $1,380,000 after buying an additional 53,011 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of Pagaya Technologies by 353.2% in the 1st quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock valued at $4,354,000 after acquiring an additional 291,291 shares during the last quarter. Royal Bank of Canada raised its position in shares of Pagaya Technologies by 134.6% during the 1st quarter. Royal Bank of Canada now owns 35,940 shares of the company’s stock valued at $419,000 after acquiring an additional 20,623 shares in the last quarter. Empowered Funds LLC raised its position in shares of Pagaya Technologies by 4,562.7% during the 1st quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock valued at $1,359,000 after acquiring an additional 114,159 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Pagaya Technologies by 5.4% during the first quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock worth $176,000 after purchasing an additional 776 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.