Pagaya Technologies Ltd. (NASDAQ:PGY – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $14.19, but opened at $14.84. Pagaya Technologies shares last traded at $14.70, with a volume of 165,748 shares.
Wall Street Analyst Weigh In
PGY has been the topic of several analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Pagaya Technologies in a report on Monday, June 17th. They issued an “outperform” rating and a $23.00 price target on the stock. Citigroup initiated coverage on shares of Pagaya Technologies in a report on Friday, May 24th. They issued a “neutral” rating and a $14.00 price target on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Pagaya Technologies in a report on Thursday, May 9th. Benchmark reissued a “buy” rating and set a $22.00 price objective on shares of Pagaya Technologies in a report on Friday, May 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Friday, June 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.93.
Pagaya Technologies Stock Up 2.5 %
The stock has a market capitalization of $1.03 billion, a PE ratio of -10.21 and a beta of 6.44. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.36 and a quick ratio of 2.36. The business’s fifty day moving average price is $12.84 and its two-hundred day moving average price is $12.73.
Pagaya Technologies (NASDAQ:PGY – Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). The business had revenue of $237.00 million for the quarter, compared to analyst estimates of $229.45 million. Pagaya Technologies had a negative net margin of 10.53% and a negative return on equity of 4.23%. During the same quarter in the prior year, the firm earned ($0.48) earnings per share. On average, equities research analysts forecast that Pagaya Technologies Ltd. will post -0.17 EPS for the current fiscal year.
Insider Activity at Pagaya Technologies
In related news, CFO Evangelos Perros sold 11,293 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $12.15, for a total transaction of $137,209.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Pagaya Technologies news, Director Nicole Torraco sold 4,743 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $12.04, for a total value of $57,105.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Evangelos Perros sold 11,293 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $12.15, for a total transaction of $137,209.95. The disclosure for this sale can be found here. Insiders sold 16,236 shares of company stock worth $197,438 over the last three months. Company insiders own 19.70% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Pagaya Technologies in the 2nd quarter valued at about $166,000. ARK Investment Management LLC lifted its stake in Pagaya Technologies by 36.2% in the 2nd quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock valued at $2,830,000 after buying an additional 58,939 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Pagaya Technologies in the 2nd quarter valued at about $1,564,000. SG Americas Securities LLC purchased a new position in Pagaya Technologies in the 2nd quarter valued at about $101,000. Finally, Black Maple Capital Management LP purchased a new position in Pagaya Technologies in the 1st quarter valued at about $438,000. Institutional investors and hedge funds 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.