Pagaya Technologies (NASDAQ:PGY) Stock Price Down 4.7% - Time to Sell?

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) traded down 4.7% on Monday . The company traded as low as $11.10 and last traded at $11.13. 527,493 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,253,682 shares. The stock had previously closed at $11.68.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Canaccord Genuity Group cut their price objective on Pagaya Technologies from $42.00 to $32.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Benchmark reissued a "buy" rating and issued a $21.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Wedbush reissued a "neutral" rating and issued a $13.00 target price on shares of Pagaya Technologies in a research report on Monday, August 12th. Oppenheimer began coverage on shares of Pagaya Technologies in a research report on Tuesday, October 1st. They issued an "outperform" rating and a $12.00 target price for the company. Finally, B. Riley reduced their price objective on shares of Pagaya Technologies from $48.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.89.

Pagaya Technologies Trading Down 8.5 %

The company's fifty day moving average price is $11.81 and its two-hundred day moving average price is $12.20. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.72. The firm has a market cap of $767.70 million, a P/E ratio of -5.43 and a beta of 6.33.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.11). Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. The company had revenue of $250.34 million for the quarter, compared to the consensus estimate of $239.16 million. As a group, sell-side analysts predict that Pagaya Technologies Ltd. will post -0.09 EPS for the current fiscal year.

Insider Activity at Pagaya Technologies

In other news, CTO Avital Pardo sold 11,601 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.83, for a total transaction of $183,643.83. Following the completion of the transaction, the chief technology officer now directly owns 433,125 shares of the company's stock, valued at $6,856,368.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Avital Pardo sold 11,601 shares of the firm's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $15.83, for a total value of $183,643.83. Following the completion of the transaction, the chief technology officer now directly owns 433,125 shares of the company's stock, valued at approximately $6,856,368.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Yahav Yulzari acquired 23,600 shares of the firm's stock in a transaction on Monday, September 30th. The stock was bought at an average price of $10.52 per share, for a total transaction of $248,272.00. Following the completion of the acquisition, the insider now owns 311,637 shares of the company's stock, valued at approximately $3,278,421.24. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 51,649 shares of company stock worth $706,744 in the last ninety days. Company insiders own 19.70% of the company's stock.

Institutional Investors Weigh In On Pagaya Technologies

A number of institutional investors have recently modified their holdings of PGY. Allspring Global Investments Holdings LLC bought a new position in shares of Pagaya Technologies in the first quarter worth about $12,686,000. Hood River Capital Management LLC acquired a new stake in Pagaya Technologies during the 1st quarter valued at approximately $9,265,000. Millennium Management LLC increased its position in Pagaya Technologies by 455.9% during the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company's stock valued at $2,789,000 after purchasing an additional 179,235 shares during the period. Divisadero Street Capital Management LP bought a new position in shares of Pagaya Technologies during the 2nd quarter worth approximately $2,273,000. Finally, Yarra Square Partners LP boosted its holdings in shares of Pagaya Technologies by 29.9% during the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company's stock worth $7,903,000 after buying an additional 142,500 shares in the last quarter. 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.