Pagaya Technologies (NASDAQ:PGY) Stock Price Down 7.1% – What’s Next?

Pagaya Technologies Ltd. (NASDAQ:PGY)’s share price fell 7.1% during trading on Friday . The company traded as low as $10.80 and last traded at $10.74. 309,764 shares changed hands during trading, a decline of 82% from the average session volume of 1,689,881 shares. The stock had previously closed at $11.56.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group started coverage on Pagaya Technologies in a research note on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. B. Riley reaffirmed a “buy” rating and set a $36.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $13.00 to $14.50 in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.61.

Pagaya Technologies Stock Down 7.8 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s fifty day moving average is $11.55 and its two-hundred day moving average is $10.91. The company has a market cap of $802.68 million, a price-to-earnings ratio of -1.94 and a beta of 5.98.

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

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 21,547 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $214,823.59. Following the completion of the sale, the insider now owns 73,550 shares of the company’s stock, valued at $733,293.50. This represents a 22.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Evangelos Perros sold 21,305 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $212,410.85. Following the sale, the chief financial officer now owns 54,029 shares of the company’s stock, valued at approximately $538,669.13. This represents a 28.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,692 shares of company stock valued at $1,205,379. 49.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

A number of large investors have recently modified their holdings of PGY. R Squared Ltd purchased a new position in shares of Pagaya Technologies in the fourth quarter worth approximately $30,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Pagaya Technologies during the 4th quarter valued at approximately $43,000. Nisa Investment Advisors LLC bought a new stake in shares of Pagaya Technologies during the fourth quarter valued at approximately $57,000. KLP Kapitalforvaltning AS purchased a new stake in Pagaya Technologies in the 4th quarter worth $67,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Pagaya Technologies in the fourth quarter worth about $93,000. 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.