Pagaya Technologies (NASDAQ:PGY) Announces Earnings Results

Pagaya Technologies (NASDAQ:PGY) released its earnings results on Monday. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.46, Briefing.com reports. The firm had revenue of $350.17 million during the quarter, compared to analyst estimates of $338.86 million. Pagaya Technologies had a negative net margin of 15.32% and a positive return on equity of 33.10%. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. Pagaya Technologies updated its FY 2025 guidance to EPS and its Q4 2025 guidance to EPS.

Pagaya Technologies Stock Down 1.9%

Shares of PGY stock traded down $0.53 during trading hours on Wednesday, hitting $27.24. 447,655 shares of the company were exchanged, compared to its average volume of 3,151,401. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $44.99. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average of $31.99 and a two-hundred day moving average of $26.12. The company has a market capitalization of $2.09 billion, a PE ratio of -10.25 and a beta of 5.83.

Analyst Ratings Changes

A number of research firms recently commented on PGY. Zacks Research downgraded Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Pagaya Technologies from $27.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Wall Street Zen cut shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a report on Tuesday, October 14th. Finally, Benchmark reissued a “buy” rating and set a $48.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.67.

Insider Activity at Pagaya Technologies

In other news, President Sanjiv Das sold 4,783 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $30.20, for a total transaction of $144,446.60. Following the completion of the transaction, the president directly owned 100,640 shares of the company’s stock, valued at $3,039,328. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Evangelos Perros sold 12,754 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $30.20, for a total value of $385,170.80. Following the transaction, the chief financial officer owned 78,163 shares of the company’s stock, valued at approximately $2,360,522.60. The trade was a 14.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 95,081 shares of company stock valued at $3,475,010. 47.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

Several institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. bought a new position in shares of Pagaya Technologies during the 3rd quarter worth approximately $424,000. Tower Research Capital LLC TRC increased its holdings in Pagaya Technologies by 177.8% during the second quarter. Tower Research Capital LLC TRC now owns 6,561 shares of the company’s stock worth $140,000 after buying an additional 4,199 shares during the last quarter. Voleon Capital Management LP acquired a new stake in Pagaya Technologies in the 2nd quarter valued at about $353,000. HRT Financial LP grew its holdings in Pagaya Technologies by 142.6% during the second quarter. HRT Financial LP now owns 223,164 shares of the company’s stock worth $4,757,000 after purchasing an additional 131,173 shares during the period. Finally, Engineers Gate Manager LP increased its position in Pagaya Technologies by 405.7% during the second quarter. Engineers Gate Manager LP now owns 158,800 shares of the company’s stock worth $3,386,000 after buying an additional 127,399 shares during the last quarter. Institutional investors own 57.14% of the company’s stock.

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.