Pagaya Technologies (NASDAQ:PGY) Receives “Buy” Rating from Benchmark

Benchmark restated their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a $21.00 target price on the stock.

A number of other equities research analysts have also recently commented on the company. B. Riley dropped their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Oppenheimer assumed coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price objective for the company. Canaccord Genuity Group reduced their target price on Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, September 30th. JMP Securities reissued a “market outperform” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Finally, Wedbush restated a “neutral” rating and set a $13.00 price objective on shares of Pagaya Technologies in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

Pagaya Technologies Trading Up 8.8 %

Shares of NASDAQ:PGY opened at $11.81 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.72. Pagaya Technologies has a 12-month low of $8.56 and a 12-month high of $20.50. The business has a 50 day moving average of $12.12 and a two-hundred day moving average of $12.07. The company has a market capitalization of $837.33 million, a PE ratio of -8.38 and a beta of 6.36.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.11). Pagaya Technologies had a negative net margin of 14.58% and a negative return on equity of 3.10%. The firm had revenue of $250.34 million during the quarter, compared to analyst estimates of $239.16 million. As a group, analysts forecast that Pagaya Technologies will post -0.15 EPS for the current year.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Yahav Yulzari purchased 23,600 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $10.52 per share, for a total transaction of $248,272.00. Following the completion of the transaction, the insider now owns 311,637 shares of the company’s stock, valued at $3,278,421.24. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Yahav Yulzari purchased 23,600 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $10.52 per share, with a total value of $248,272.00. Following the completion of the acquisition, the insider now owns 311,637 shares in the company, valued at $3,278,421.24. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tami Rosen sold 8,025 shares of Pagaya Technologies stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total value of $117,967.50. Following the transaction, the insider now owns 55,751 shares in the company, valued at approximately $819,539.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,792 shares of company stock valued at $817,717 over the last 90 days. 19.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in Pagaya Technologies in the 1st quarter valued at about $12,686,000. Hood River Capital Management LLC acquired a new stake in Pagaya Technologies in the 1st quarter valued at approximately $9,265,000. Quadrature Capital Ltd raised its position in Pagaya Technologies by 3,558.5% in the fourth quarter. Quadrature Capital Ltd now owns 784,860 shares of the company’s stock valued at $1,079,000 after purchasing an additional 763,407 shares during the period. Millennium Management LLC lifted its stake in Pagaya Technologies by 455.9% during the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after purchasing an additional 179,235 shares in the last quarter. Finally, Divisadero Street Capital Management LP purchased a new position in shares of Pagaya Technologies during the second quarter worth $2,273,000. Hedge funds and other 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.