Pagaya Technologies (NASDAQ:PGY) Shares Down 13.1% – Time to Sell?

Pagaya Technologies Ltd. (NASDAQ:PGY) fell 13.1% during trading on Monday . The company traded as low as $9.30 and last traded at $9.18. 1,934,477 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 2,839,006 shares. The stock had previously closed at $10.57.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. UBS Group assumed coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They set a “neutral” rating and a $11.00 price target on the stock. JMP Securities upped their target price on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.17.

Pagaya Technologies Stock Down 9.5 %

The company has a market capitalization of $704.89 million, a price-to-earnings ratio of -1.74 and a beta of 5.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s fifty day moving average price is $11.02 and its 200-day moving average price is $11.13.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). The firm had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. During the same period in the previous year, the company earned $0.24 EPS. Sell-side analysts expect that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Sanjiv Das sold 6,343 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $63,239.71. Following the completion of the transaction, the president now directly owns 75,528 shares in the company, valued at $753,014.16. This trade represents a 7.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tami Rosen sold 35,369 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $15.00, for a total value of $530,535.00. Following the completion of the sale, the insider now owns 38,181 shares in the company, valued at $572,715. The trade was a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,692 shares of company stock valued at $1,205,379 in the last ninety days. 49.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PGY. GSA Capital Partners LLP bought a new position in Pagaya Technologies during the third quarter worth $374,000. Intech Investment Management LLC bought a new position in shares of Pagaya Technologies in the 3rd quarter worth about $191,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Pagaya Technologies by 17.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock valued at $1,184,000 after purchasing an additional 16,533 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Pagaya Technologies by 13.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock valued at $176,000 after purchasing an additional 1,937 shares in the last quarter. Finally, FMR LLC increased its holdings in Pagaya Technologies by 8.3% in the third quarter. FMR LLC now owns 524,570 shares of the company’s stock worth $5,545,000 after purchasing an additional 40,031 shares in the last quarter. 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.