Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Recommendation of “Buy” by Analysts

Pagaya Technologies Ltd. (NASDAQ:PGY) has earned an average recommendation of “Buy” from the twelve analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $34.50.

PGY has been the subject of several analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $32.00 price target on shares of Pagaya Technologies in a report on Monday, May 18th. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Finally, Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th.

Insider Buying and Selling

In related news, President Sanjiv Das sold 13,309 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $16.23, for a total transaction of $216,005.07. Following the sale, the president directly owned 154,475 shares of the company’s stock, valued at $2,507,129.25. This trade represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Cory Vieira sold 2,140 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total value of $32,121.40. Following the sale, the chief accounting officer directly owned 18,179 shares in the company, valued at $272,866.79. This trade represents a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 65,356 shares of company stock valued at $973,690 over the last ninety days. Insiders own 47.59% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Several institutional investors have recently modified their holdings of PGY. Root Financial Partners LLC purchased a new stake in shares of Pagaya Technologies during the fourth quarter valued at $27,000. Aster Capital Management DIFC Ltd boosted its position in shares of Pagaya Technologies by 351.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after buying an additional 1,084 shares during the last quarter. Transamerica Financial Advisors LLC purchased a new stake in shares of Pagaya Technologies during the fourth quarter valued at $30,000. Quarry LP boosted its position in shares of Pagaya Technologies by 330.8% during the fourth quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after buying an additional 1,277 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in shares of Pagaya Technologies during the third quarter valued at $36,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY opened at $15.17 on Thursday. Pagaya Technologies has a 1-year low of $10.40 and a 1-year high of $44.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09. The business has a fifty day moving average price of $14.34 and a 200-day moving average price of $16.06. The company has a market capitalization of $1.26 billion, a PE ratio of 14.18 and a beta of 5.35.

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

About Pagaya Technologies

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.