Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $35.86 Consensus Target Price from Brokerages

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

A number of brokerages recently weighed in on PGY. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Texas Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, 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.

Pagaya Technologies Trading Down 1.9%

PGY stock opened at $17.15 on Monday. The company has a quick ratio of 12.09, a current ratio of 12.09 and a debt-to-equity ratio of 1.25. Pagaya Technologies has a twelve month low of $10.40 and a twelve month high of $44.99. The company has a market cap of $1.42 billion, a P/E ratio of 16.03 and a beta of 5.32. The business has a fifty day moving average of $15.49 and a 200-day moving average of $15.44.

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

Insider Buying and Selling

In related news, President Sanjiv Das sold 14,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $15.83, for a total transaction of $221,620.00. Following the completion of the sale, the president directly owned 165,475 shares of the company’s stock, valued at approximately $2,619,469.25. This represents a 7.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 9,944 shares of Pagaya Technologies stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $15.20, for a total value of $151,148.80. Following the completion of the sale, the director directly owned 37,544 shares in the company, valued at $570,668.80. This represents a 20.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 58,090 shares of company stock valued at $923,764. 41.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pagaya Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in Pagaya Technologies by 1,231.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock valued at $25,591,000 after acquiring an additional 1,110,208 shares during the period. Millennium Management LLC grew its stake in shares of Pagaya Technologies by 320.1% in the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after purchasing an additional 961,944 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Pagaya Technologies by 221.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company’s stock valued at $28,833,000 after purchasing an additional 950,443 shares during the period. Marshall Wace LLP increased its holdings in Pagaya Technologies by 1,556.3% in the third quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock valued at $19,952,000 after purchasing an additional 631,435 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Pagaya Technologies by 141.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,029,081 shares of the company’s stock valued at $12,040,000 after purchasing an additional 602,992 shares during the period. 57.14% of the stock is currently owned by institutional investors and hedge funds.

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.