Pagaya Technologies (NASDAQ:PGY) PT Lowered to $32.00

Pagaya Technologies (NASDAQ:PGY) had its target price decreased by Canaccord Genuity Group from $42.00 to $32.00 in a report issued on Monday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Benchmark assumed coverage on shares of Pagaya Technologies in a report on Monday, August 26th. They issued a buy rating and a $21.00 price objective on the stock. JMP Securities reiterated a market outperform rating and set a $25.00 target price on shares of Pagaya Technologies in a report on Tuesday, September 3rd. B. Riley cut their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a buy rating on the stock in a research note on Monday. Keefe, Bruyette & Woods initiated coverage on Pagaya Technologies in a research note on Monday, June 17th. They issued an outperform rating and a $23.00 price target on the stock. Finally, Wedbush reaffirmed a neutral rating and set a $13.00 price objective on shares of Pagaya Technologies in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $22.89.

Pagaya Technologies Stock Up 2.0 %

Shares of NASDAQ:PGY opened at $10.19 on Monday. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $20.50. The firm has a market cap of $722.47 million, a P/E ratio of -7.23 and a beta of 6.36. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $12.70 and its two-hundred day moving average price is $12.03.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.15) 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 company had revenue of $250.34 million for the quarter, compared to the consensus estimate of $239.16 million. As a group, research analysts forecast that Pagaya Technologies will post -0.11 EPS for the current fiscal year.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 8,025 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $14.70, for a total transaction of $117,967.50. Following the transaction, the insider now directly owns 55,751 shares in the company, valued at $819,539.70. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CRO Yahav Yulzari sold 11,662 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $15.78, for a total transaction of $184,026.36. Following the completion of the sale, the executive now owns 288,037 shares in the company, valued at $4,545,223.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Tami Rosen sold 8,025 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $14.70, for a total value of $117,967.50. Following the completion of the sale, the insider now owns 55,751 shares of the company’s stock, valued at $819,539.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,453 shares of company stock valued at $973,545. 19.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors and hedge funds have recently modified their holdings of PGY. Quadrature Capital Ltd bought a new stake in Pagaya Technologies in the 4th quarter valued at about $1,079,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Pagaya Technologies in the first quarter valued at approximately $275,000. Allspring Global Investments Holdings LLC acquired a new stake in Pagaya Technologies during the first quarter worth approximately $12,686,000. Cornerstone Investment Partners LLC acquired a new stake in Pagaya Technologies during the first quarter worth approximately $158,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Pagaya Technologies by 14.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock worth $6,818,000 after acquiring an additional 83,913 shares during the period. 57.14% of the stock is currently owned by institutional investors and hedge funds.

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.