Pagaya Technologies (NASDAQ:PGY) Trading Up 6.3% - Still a Buy?

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) traded up 6.3% on Wednesday . The stock traded as high as $12.20 and last traded at $12.03. 2,408,708 shares changed hands during trading, an increase of 20% from the average session volume of 2,014,407 shares. The stock had previously closed at $11.32.

Wall Street Analyst Weigh In

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

Pagaya Technologies Stock Up 5.0 %

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The company has a fifty day moving average price of $9.87 and a 200-day moving average price of $11.09. The stock has a market capitalization of $1.13 billion, a P/E ratio of -6.05 and a beta of 6.09.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a positive return on equity of 1.01% and a negative net margin of 18.48%. The firm had revenue of $279.39 million during the quarter, compared to the consensus estimate of $264.28 million. During the same period last year, the firm posted $0.24 earnings per share. As a group, research analysts forecast that Pagaya Technologies Ltd. will post 0.18 EPS for the current fiscal year.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 21,547 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $214,823.59. Following the sale, the insider now directly owns 73,550 shares of the company's stock, valued at $733,293.50. The trade was a 22.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Evangelos Perros sold 21,305 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $212,410.85. Following the sale, the chief financial officer now directly owns 54,029 shares in the company, valued at $538,669.13. The trade was a 28.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,692 shares of company stock valued at $1,205,379. 49.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pagaya Technologies

Several large investors have recently added to or reduced their stakes in PGY. R Squared Ltd bought a new stake in Pagaya Technologies during the fourth quarter worth approximately $30,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Pagaya Technologies during the fourth quarter valued at approximately $43,000. Nisa Investment Advisors LLC purchased a new position in shares of Pagaya Technologies during the fourth quarter valued at approximately $57,000. KLP Kapitalforvaltning AS purchased a new position in shares of Pagaya Technologies during the fourth quarter valued at approximately $67,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Pagaya Technologies by 15.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock valued at $101,000 after buying an additional 1,532 shares during the period. 57.14% of the stock is owned by institutional investors.

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.